French, Asian Shipping Giants Extend Alliance [Barron's]
COSCO SHP HLDG UNSP/ADR (CICOY)
NASDAQ:AMEX Investor Relations:
coscointl.com/en_ir_ho.asp
Company Research
Source: Barrons
CMA CGM, the world's third biggest shipping company, said the Ocean Alliance, in place since 2017, enables its members to provide fast transit times and a broad range of ports. The partnership covers the seven main East-West routes linking Asia with northern Europe, the Mediterranean, the Middle East and the coasts of North America. The current agreement was due to end in 2027. "The decision to extend our cooperation for at least five more years underlines our commitment to meeting the needs of our customers and building even more secure, reliable and sustainable supply chains," CMA CGM chief executive Rodolphe Saade said. Evergreen said the extension would allow alliance members to "continue providing customers with stable and high-quality shipping services on the same cooperative basis". Cosco Shipping said the documents signed by the companies extend the alliance until March 31, 2032. "We are convinced that as a sustainable alliance, we can provide continuous high-qual
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