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Maersk, MSC in major vessel sharing pact

Associated Press

HELSINKI (AP) — Danish shipper Maersk Line has announced a vessel-sharing agreement with MSC Mediterranean Shipping Company on major shipping routes, three weeks after China blocked plans for an alliance between the two and CMA CGM of France.

Maersk says the pact with the Swiss-Italian shipper covers 185 vessels, and will help the companies cut costs and reduce emissions. Subject to regulatory approvals, the 10-year deal is set to take force early next year.

The Danish company said Thursday it will provide the larger share of the agreement with some 110 vessels, mainly to be used on trans-Atlantic and trans-Pacific routes, as well as transports between Europe and Asia.

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