Multi-trade Vessel Sharing Agreement between MSC and Maersk Line

Vessel Sharing Agreement: Maersk Line announces cooperation on the East-West trades with Mediterranean Shipping Company

On 10 July, Maersk Line and Mediterranean Shipping Company (MSC) have announced a 10 year Vessel Sharing Agreement (VSA) on the Asia-Europe, Transatlantic and Transpacific trades. The VSA will be referred to as “2M”. It replaces all existing VSAs and slot purchase agreements that Maersk Line has in these trades.

The VSA will include 185 vessels with an estimated capacity of 2.1 million TEU, deployed on 21 strings. The overall purpose of the cooperation is to share infrastructure (network). Maersk Line and MSC will be able to provide their customers with more stable and frequent services and to cover more ports with direct services. The VSA will improve the efficiency of both networks through better utilisation of vessel capacity and economies of scale.

The “2M” Vessel Sharing Agreement differs from the earlier proposed P3 alliance in two important ways: first of all, the combined market share is much smaller. Secondly the cooperation is a pure VSA. There will be no jointly owned independent entity with executional powers.

Some details regarding the “2M” Vessel Share Agreement

• The 21 strings are split as follows: Asia/North Europe: 6, Asia/Mediterranean: 4, Asia/US West Coast: 4, Asia/US East Coast: 2, North Europe/USA: 3, Mediterranean/USA: 2

• Maersk Line will contribute with approximately 110 vessels with a nominal capacity of app. 1.2 million TEU (55% of the total capacity)

• MSC will contribute with approximately 75 vessels with a nominal capacity of app. 0.9 million TEU (45% of the total capacity)

• Vessels deployed in the VSA will continue to be owned (or chartered) and operated by the two individual lines

• The VSA does not include joint marine operations. Each party will thus execute their own operations including stowage, voyage planning and port operations

• The VSA does not include any commercial tasks or responsibilities. Each party will continue to have fully independent sales, pricing, marketing, and customer service functions

• A joint coordination committee will monitor the network on a daily basis

• The VSA is expected to start early 2015. The starting date is conditioned by filing of information to and in some cases approvals by relevant authorities

www.maerskline.com   www.mscgva.ch

Quelle: LogEastics
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