CMA CGM, COSCO Shipping Lines, Evergreen Marine and Orient Overseas Container Line (OOCL) signed documents on Tuesday to agree on an extension of their OCEAN Alliance by five years through March 31, 2032.

The OCEAN Alliance became operational in April 2017, at which time it intended to stay in service through March 2017. Currently, the alliance runs a total of 1,338 vessels of 8.4 million TEUs, of which CMA CGM is responsible for 43%; COSCO, 37%; and Evergreen 20%. It has 1,550 ships of 2.7 million TEUs on order now, of which CMA CGM orders accounted for 41%; Evergreen orders, 30%; and COSCO orders, 29%.




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