News and insight for North America's fresh produce buyers

By Luisa Cheshire

Friday 13th May 2016, 12:44 GMT Hapag-Lloyd forms new shipping group

Germany's Hapag-Lloyd and five Asian shipping lines are forming a new vessel- sharing alliance, called The Alliance

apag-Lloyd AG, Germany’s top cent of the world’s container shipping fleet state-controlled groups, China Ocean H container shipping line, and five with more than 620 vessels and a combined Shipping Group and China Shipping Group, Asian carriers will form a new capacity of 3.5m standard twenty-foot Bloomberg said. vessel-sharing alliance to take on bigger containers, or TEU, according to the rivals amid a glut in capacity that’s statement. , Mitsui OSK and Hapag- depressed freight rates, reports Bloomberg. Lloyd are all currently part of the G6 Global shipping lines are regrouping to Alliance, which will cease to exist next year, The partners will include ’s Kawasaki compete more effectively against market while Shipping, Kawasaki Kisen and Kisen Kaisha Ltd, Mitsui OSK Lines Ltd, leaders AP Moeller-Maersk A/S and Yang Ming belong to the CKHYE alliance Nippon Yusen KK, South ’s Hanjin Mediterranean Shipping Co that are allied that also includes Cosco Container Lines Shipping Co, and ’s Yang Ming under the 2M partnership, which controls Co and Evergreen Marine Corp Taiwan Ltd. Marine Transport Corp, the Hamburg-based 28 per cent of the market, according to company said in a statement. Alphaliner.

Called ‘The Alliance,’ it will control 18 per They also have to contend with Chinese operators as the government consolidated operations of two major

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