THE recent sudden announcement from Hapag-Lloyd and Maersk on developing a brand-new and long-term operational collaboration titled the Gemini Cooperation is all set to disrupt the whole shipping alliances landscape, says Alphaliner.
Starting in February 2025, the deal targets creating an exceptional worldwide network with advanced schedule reliability, competitive transit times, and a lowered carbon footprint, reports Bangalore's Marine Insight.
The association will combine the fleets of both firms, resulting in a pool of about 290 vessels with a cumulative capacity of about 3.4 million TEU. Maersk will deploy 60 per cent of the vessels, while Hapag-Lloyd will account for 40 per cent. The shipping majors have set an ambitious aim of achieving more than 90 per cent schedule reliability as the network becomes fully operational.
The formation of the Gemini Cooperation will have Hapag-Lloyd exit THE Alliance early by the end of Jan 2025, two years ahead of the scheduled termination in 2027. Similarly, MSC Mediterranean Shipping Company and Maersk declared that the 2M alliance will end in January 2025.
Such a move has created a stir in the world of shipping. Alphaliner observes that besides marking a change in Maersk's previous stance to operate independently after the 2M partnership ends, it also indicates that Hapag-Lloyd will leave THE Alliance after eight years. The fresh "hub and spoke" network, which restricts port calls on deep-sea loops, is worth noting.
With Hapag-Lloyd's departure, there could be some unforeseen changes in THE Alliance, but the rest of the members (Yang Ming, NYK, MOL, K-Line, and HMM) have only limited options, states Alphaliner. The Alliance can potentially continue without Hapag-Lloyd, who, despite holding the fifth rank globally, is not the key contributor in tonnage to THE Alliance (ONE has that position currently with 38.7 per cent of capacity).
A fresh alliance between the rest of THE Alliance members, as well as the Ocean Alliance (whose members include COSCO, CMA CGM, Evergreen, and OOCL), seems improbable owing to Evergreen's substantial market share in Asia-Europe as well as Transpacific trades. While the changes can bring about new challenges, they offer opportunities for strategic reshuffling and strengthening the alliances within the more significant shipping industry.
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