In a move that will cause few tears to be shed by those who think the liner shipping industry is far too cosy, anyway, container shipping giants Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller – Maersk, have mutually agreed to terminate, effective in January 2025, their present 2M alliance.
2M is a container shipping line vessel sharing agreement (VSA) that was introduced in 2015 by Maersk and MSC with the stated aim of “ensuring competitive and cost-efficient operations on the Asia-Europe, Transatlantic and Transpacific trades.”
The 2M agreement has a minimum term of 10 years with a two-year notice period of termination
In a joint statement, Vincent Clerc, CEO of A. P. Moller – Maersk, and Soren Toft, CEO of MSC, say: “MSC and Maersk recognize that much has changed since the two companies signed the 10-year agreement in 2015. Discontinuing the 2M alliance paves the way for both companies to continue to pursue their individual strategies.
“We have very much appreciated the partnership and look forward to a continued strong collaboration throughout the remainder of the agreement period. We remain fully committed to delivering on the 2M alliance’s services to customers of MSC and Maersk.”
In a separate statement MSC CEO Soren Toft said:
“The 2M alliance played a key role in supporting the container shipping industry over the past eight years.
“At MSC today, we continue to strengthen and modernize our fleet, providing us with the scale we need for the most comprehensive ocean and short-sea shipping network in the market. We remain focused on delivering high-quality, personal service to a wide range of clients, as we continue to develop cargo-carrying solutions on the oceans and beyond.”
“2M was introduced in 2015 at a time when the ocean carrier industry needed an injection of stability. MSC is grateful for the operational cooperation with Maersk over the past eight years and expects the concept of ocean liner vessel-sharing to remain relevant and beneficial to carriers and their customers.”