Boxship giants Maersk and Mediterranean Shipping Co (MSC) have found a new partner after the defection of South Korean owner HMM.
They have signed a cooperation agreement between Asia and the US with relative newcomer SM Line of South Korea to replace associate member HMM, which is joining THE Alliance grouping of lines from 1 April.
"MSC is pleased to announce that we have made a new cooperation agreement with SM Line, beginning on 1 April 2020, that ensures we will provide continuity of services between Asia and the west coast of North America, with improved services to the Pacific North West," the Swiss owner said.
However, it made clear that the deal is separate from the 2M vessel sharing agreement between MSC and Maersk.
The services of 2M and SM Line are intended to complement each other, it added.
The companies will carry out a series of slot exchanges and slot purchases, subject to regulatory approval.
"With the new agreement, MSC will be in a strong position to continue to offer six weekly services between Asia and the west coasts of the US and Canada," MSC said.
The pact is expected to help SM Line expand its services in the region and cut costs.
SM Line has much to gain
SM Line said it will sign a joint operation agreement this month.
It will gain extra port coverage and faster transit times, while also strengthening its reefer service.
SM Line was launched in 2018 after South Korean conglomerate Samra Midas Group bought assets from defunct Hanjin Shipping, once the country’s largest container lines.
It operates 19 boxships of up to 8,600 teu, plus a bulker.
Last month, German container line Hapag-Lloyd signed a space charter agreement with 2M rivals Maersk and MSC.
The liner operator will gain access to selected services in the Asia to northern Europe trade. It will start co-loading on 2M ships from March this year.
Hapag-Lloyd is part of THE Alliance group that HMM is joining.
