Maersk, MSC to discontinue 2M alliance in 2025
"Announcement has no immediate impact on the services provided to customers using the 2M trades"
MSC Mediterranean Shipping Company (MSC) and Maersk, an entity under A.P. Moller-Maersk, have mutually agreed to terminate, effective in January 2025, the present 2M alliance.
“MSC and Maersk recognise that much has changed since the two companies signed the 10-year agreement in 2015," says Vincent Clerc, CEO, Maersk and Soren Toft, CEO, MSC, in a joint statement. "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.”
The announcement has no immediate impact on the services provided to customers using the 2M trades, the statement added. "Each company’s customer teams will communicate with their respective clients to support during, and beyond, the phase-out of the 2M alliance."
Background
*2M is a container shipping line vessel sharing agreement (VSA)
*Introduced in 2015 by Maersk and MSC to ensure competitive and cost-efficient operations on the Asia-Europe, Transatlantic and Transpacific trades; and
*Agreement had a minimum term of 10 years with a 2-year notice period of termination.
"I would expect the 2M alliance to have its final sailing in the coming year as both companies officially redefines their separate futures," says Peter Sand, Chief Analyst, Xeneta in his LinkedIn post.
"Amidst the current headwinds in the containershipping market, offering the best product to all main haul East-West #shippers should be essential," Sand added.