Six carriers anounce the formation of a new carrier alliance

Six carriers announced on Friday the formation of a new carrier agreement, named The Alliance. The carriers include Hapag-Lloyd, Taiwan’s Yang Ming, South Korean Hanjin and the three Japanese carriers, namely K Line, NYK and MOL. The Alliance is estimated to control 18 percent of global container fleet capacity.

Currently, the 2M alliance includes Maersk and MSC; while The Ocean Alliance, comprises of CMA CGM, China Cosco Shipping, OOCL and Evergreen. The three alliance move roughly 90% of worldwide ocean freight; with alliances changing over time.