OCEAN Alliance Sets Out Network

November 7, 2016 - Members of the OCEAN Alliance, COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line, signed a document entitled the Day One Product, which sets out the proposed OCEAN Alliance’s network, including port rotation for each service loop. The Day One network intends to deploy around 350 container vessels with an estimated total carrying capacity of 3.5 million TEUs to provide one of the most comprehensive service coverage in the market on the following trade lanes. The vessel deployment details for each service loop, will be released around end of this November. The top priority of the OCEAN Alliance is service quality and schedule reliability. Customers will benefit from a competitive selection of sailing schedules and direct port pairs, fast transit times, and a highly efficient fleet of vessels to cater to the needs of today’s demanding and increasingly green global supply chains. “The signing of the Day One Product marks an important step forward to show just how committed we are in developing the most competitive products to market and the high level of synergy and confidence we share in the partnership,” member carriers said in a statement. At this time, the members of the OCEAN Alliance are pleased to inform that they have filed the Master Agreement (Alliance Agreement) to Ministry of Transport of the People’s Republic of China and that the U.S. Federal Maritime Commission (FMC) and South Korea’s Ministry of Oceans and Fisheries (MOF) have expressed approval of the OCEAN Alliance. The OCEAN Alliance has also completed its EU self-assessment compliance review. The OCEAN Alliance is satisfied that its agreement and services are compliant with EU regulatory requirements, following satisfactory completion of a self-assessment of its activities under EU competition rules and discussions with the EU Commission. Moving forward, the OCEAN Alliance will continue to work closely with all the authorities to ensure full compliance with applicable laws and regulations and secure the necessary regulatory approvals for the OCEAN Alliance to commence operations from April 1st 2017.