Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Supply Chain

Hapag-Lloyd, Maersk Sign Long-Term Collaboration Deal

By Reuters
Share this article
Hapag-Lloyd, Maersk Sign Long-Term Collaboration Deal

Hapag-Lloyd and Maersk have signed an agreement for a new long-term collaboration starting February 2025 with a combined capacity of 3.4 million containers (TEU), the two shipping companies announced.

As a part of the agreementcalled Gemini Cooperation, the two companies have set the ambitious target of delivering schedule reliability of above 90% once the network is fully phased in, they said in a joint statement.

The Gemini Cooperation will comprise 26 mainline services. It will be complemented by a global network of dedicated shuttles centred around owned and/ or controlled transhipment hubs including 14 shuttle services in Europe, four in the Middle East, 13 in Asia and one in the Gulf of Mexico.

These shuttle services will offer a fast connection with flexible capacity between hubs and ports served by the service, and vice versa.

'Efficiency Gains In Operations'

Rolf Habben Jansen, chief executive of Hapag-Lloyd, said his company would benefit from efficiency gains in operations and joint efforts to further accelerate the decarbonisation of the wider industry.

ADVERTISEMENT

His Maersk counterpart, Vincent Clerc, said the deal will strengthen integrated logistics offerings and make services more reliable.

The shared pool, involving the world's number 2 and 5 container ship operators, will consist of 290 vessels of which Maersk will deploy 60% and Hapag-Lloyd 40%.

As a consequence of the agreement, Hapag-Lloyd will leave the shipping alliance called THE Alliance as of end of January 2025.

In 2024, Maersk and Hapag-Lloyd will plan the transition from their current alliances to the new operational cooperation. Service to customers will continue along existing agreements, the companies noted.

ADVERTISEMENT

Hapag shares were up 2.6% and Maersk shares up 1% shortly after the announcement.

News by Reuters, additional reporting by ESM. 

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.