MSC Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller - Maersk, are discontinuing the 2M shipping alliance in 2025.
The two shipping giants noted that "much has changed" since the companies inked the deal in 2015.
2M is a container shipping line vessel-sharing agreement (VSA) introduced by Maersk and MSC with the aim of ensuring competitive and cost-efficient operations in the Asia-Europe, Transatlantic and Transpacific trades.
Pursuing individual strategies
"MSC and Maersk A/S, an entity under A.P. Moller - Maersk, have mutually agreed to terminate, effective in January 2025, the present 2M alliance," the announcement said.
The 2M agreement has a minimum term of 10 years with a 2-year notice period of termination.
"MSC and Maersk recognize that much has changed since the two companies signed the 10-year agreement in 2015. Discontinuing the 2M alliance paves the way for both companies to continue to pursue their individual strategies," said CEO Vincent Clerc of A. P. Moller - Maersk and CEO Soren Toft of MSC in a joint statement.
"We have very much appreciated the partnership and look forward to continued strong collaboration throughout the remainder of the agreement period. We remain fully committed to delivering on the 2M alliance's services to customers of MSC and Maersk," the two chief executives added.
No immediate impact on services
Maersk and MSC noted that this announcement has no immediate impact on the services provided to customers using the 2M trades.
It said each company's customer teams would communicate with their respective clients to support during and beyond the phase-out of the 2M alliance.
Aside from 2M, other major shipping alliances are the Ocean Alliance (Cosco, OOCL, Evergreen and CMA CGM) and THE Alliance (ONE, Hapag-Lloyd, HMM and Yang Ming).
Together, the three major shipping alliances have a market share of 75% of the total container volume handled via sea.
