On Wednesday, April 20th, it was announced that CMA CGM, Evergreen Line, OOCL, and China Cosco Shipping would be coming together to create the new Ocean Alliance. This alliance will rival the giant 2M Alliance currently being jointly operated between Maersk and Mediterranean Shipping Co. (MSC). The new Ocean Alliance will offer more than 40 global services which will connect markets in Asia, Europe, and the United States. Pending regulatory approval, the Ocean Alliance plans to begin operations in April 2017 and will last for a period of five years. The service networks in the Ocean Alliance will cover every major trade lane globally using a fleet of more than 350 container ships. “Joint service cooperation is an essential part of our own strategic planning,” said Lawrence Lee, CEO of Evergreen Marine Group. “This new alliance enables us to optimize fleet deployment and offer competitive service to meet customers’ changing demand.” Read more.