The Federal Maritime Commission (FMC) said last week it has concluded its review of the proposed Ocean Alliance.
Set to take effect immediately and begin operations next April, the carrier members of the Ocean Alliance include: COSCO Shipping, CMA CGM, Evergreen Marine, and Orient Overseas Container Line Limited (OOCL).
With this agreement now intact, FMC said that its members can share vessels, charter and exchange space on each other’s ships, and enter into cooperative working agreements in international trade lanes between the United States and ports in Asia, Northern Europe, the Mediterranean, the Middle East, Canada, Central America, and the Caribbean.
Representatives for the Alliance called it a “milestone agreement among four of the world’s leading container shipping lines,” adding that Alliance will have nearly 400 vessels in its container fleet.