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US: Maritime officials clear new shipping alliance

 |  October 9, 2014

The US Federal Maritime Commission has extended its approval for shipping liner giants Maersk Line and Mediterranean Shipping Co to form an alliance after the two companies failed to have their earlier partnership with a third competitor cleared.

The companies will form the 2M alliance to handle about one-third of all cargo shipping within the world’s busiest ocean trade routes, say reports. The partnership would combine the world’s largest shipping container companies.

Maersk said that the US approval was the last remaining jurisdiction necessary to move forward with the deal. The companies say they expect to begin operations in January.

Maersk and MSC had previously sought to create a three-way partnership with fellow shipper CMA CGM, but the deal failed to gain clearance from Chinese officials, thwarting the plan.

Full content: Wall Street Journal

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