According to today's USDA Grain Transportation Report, on January 25, MSC and Maersk, the two largest ocean carriers announced they have agreed to terminate their pact known as the 2M vessel-sharing alliance effective January 2025.
Under the agreement signed in 2015, the alliance on east-west services was for a minimum of 10 years with a 2-year notice period for termination.
Combined, MSC and Maersk serve about 17 percent of the global container shipping market.
Analysts differ on how the alliance’s termination will affect shipping capacity: some analysists think the termination could lead to lower shipping costs, and others believe it will have no effect on costs.