Grand Alliance partners agree on another 10 years marriage
Grand Alliance members Hapag-Lloyd, MISC Berhad, NYK and OOCL have extended their liner shipping consortium agreement for a further 10 years up to 2017.
Founded in 1998, the Grand Alliance now operates about 140 vessels on 20 mainly east-west services. Malaysia’s MISC only operates in the alliance in the Asia-Europe trade.
The carriers said they will focus their efforts on offering higher frequency of sailings in fast growing markets, and making their operations as environmentally friendly as possible by reducing fuel consumption and emissions through using low-sulphur fuel. The lines will consider expanding the alliance to new markets “depending on customer demands.”
The four shipping companies also stressed that cooperation in the agreement is restricted to provision of joint port-to-port services without discussion on any commercial matters such as freight rates, unlike the situation with liner conferences which are due to be made illegal in Europe from late 2008.