CMA CGM LEAVES WESTBOUND TRANSPACIFIC AGREEMENT
CMA CGM will leave the Westbound Transpacific Stabilization Agreement on Dec. 16.
The agreement is a carrier group that discusses issues in the westbound transpacific trade and adopts non-binding recommendations on price levels.
A spokesman for CMA CGM said that its low market share in the westbound trade did not justify participating in the agreement.
Following the departure of CMA CGM, the Westbound Transpacific Stabilization Agreement will have 13 member carriers: APL, China Ocean Shipping Co., Evergreen, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, “K” Line, Maersk Sealand, Mitsui O.S.K. Lines, NYK, Orient Overseas Container Line, P&O Nedlloyd and Yangming Marine.
CMA CGM will remain a member of the eastbound Transpacific Stabilization Agreement, a carrier group that is seen as more influential in the transpacific liner trade.
