This collaboration, known as the “Gemini Cooperation,” will begin in February 2025 and aims to create a flexible and interconnected ocean network with industry-leading reliability, the companies said in a Wednesday (Jan. 17) press release.
The partnership between Hapag-Lloyd and Maersk is expected to deliver enhanced quality and efficiency to customers, the release said. By joining forces, the two companies anticipate operational benefits and accelerated progress in decarbonizing the industry.
The Gemini Cooperation will consist of a fleet pool of approximately 290 vessels, with a combined capacity of 3.4 million containers (TEU), per the release. Maersk will deploy 60% of the fleet, while Hapag-Lloyd will contribute 40%.
This collaboration will enable both companies to provide customers with a flexible ocean network with greater reliability, according to the release.
One of the key objectives of this partnership is to achieve schedule reliability of above 90% once the network is fully phased in, the release said. Customers can expect improved service quality, shorter transit times in major port-to-port corridors, and access to some of the world’s best-connected ocean hubs.
Both Hapag-Lloyd and Maersk are committed to decarbonizing their fleets and have set ambitious targets for reducing emissions, per the release. Maersk aims to achieve net-zero emissions by 2040, while Hapag-Lloyd targets the same goal by 2045.
As a result of joining the Gemini Cooperation, Hapag-Lloyd will be leaving THE Alliance by the end of January 2025, according to the release. This move follows an earlier announcement that the 2M alliance between Maersk and MSC will also end in January 2025. Service to customers will not be interrupted.
The announcement of this alliance comes at a time when container shipping rates have experienced a significant decline due to a decrease in consumer demand for goods.
In November, Maersk said it was eliminating another 3,500 positions after having reduced its headcount by 6,500 up to that point in 2023. When announcing the move, Maersk CEO Vincent Clerc said the shipping industry was facing subdued demand, lower prices and inflationary pressures.
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