THE CEOs of the CMA CGM Group, COSCO SHIPPING, Evergreen, and OOCL have signed a Memorandum of Understanding in Shanghai, extending the operational cooperation of the OCEAN Alliance for an additional five years until 2032.

Established in the spring of 2017, the OCEAN Alliance stands as the largest operational shipping network globally, serving as a cornerstone for international trade routes. It continuously delivers agile and innovative solutions to customers, fuelled by its robust network within the industry.

"As a sustainable partnership, the OCEAN Alliance remains committed to supporting customers' supply chains and businesses by providing top-tier shipping solutions across a wide range of served ports, offering direct calls and optimal transit times," according to a joint statement.

It added that for seven consecutive years, the OCEAN Alliance has played a vital role in maintaining a stable supply chain while adhering to all relevant laws and regulations. With this extension, the alliance remains dedicated to its core objective: providing the highest level of service to partners and their customers in the years ahead.

"Since 2017, the CMA CGM Group has been committed alongside its partners within the OCEAN Alliance to combine the largest shipping network with best-in-class services. The decision to extend our cooperation for at least 5 more years forges our commitment to meet our customer's needs and build even more secure, reliable and sustainable supply chains. Our diversity is our strength, together we will continue to pioneer our industry," commented Rodolphe Saade, chairman and CEO of the CMA CGM Group.