The Ocean Alliance will continue until 2032.

Source: Shipping Gazette

With the extension of this collaboration period, the Ocean Alliance will continue to pursue its primary goal: to consistently provide optimal services for alliance member clients in the future.

On February 27th, today, the four companies belonging to the Ocean Alliance – Daewoo Group, COSCO Shipping Group, Evergreen Marine Corp., and Orient Overseas Container Line – signed a Memorandum of Understanding in Shanghai, extending the cooperation period of the Ocean Alliance by five years, until 2032.

Rodolphe Saadé, Chairman and CEO of Daewoo Group, stated, "Since 2017, Daewoo Group and the members of the Ocean Alliance have been dedicated to building a first-class, extensive shipping network. By extending the collaboration period for at least five years, we are more committed to the idea of providing better services to our customers, continuing to strive for a safer, more reliable, and sustainable supply chain. We will leverage our diverse advantages, work together, and continue to lead the industry's development."

At the same time, Daewoo Group mentioned that to achieve the goal of "net-zero emissions by 2050," the company is committed to adopting the best available solutions to reduce the environmental impact of shipping and logistics operations. They plan to operate over 120 container ships powered by green alternative fuels by 2027, with some vessels already deployed in the Ocean Alliance network.

By extending the collaboration period through this agreement, the Ocean Alliance will persist in pursuing its main objective: providing optimal services for alliance member clients in the future.

Established in the spring of 2017, the Ocean Alliance operates the world's largest international trade route shipping network, providing flexible and innovative solutions based on the industry's most robust network.

Since 2017, the four collaborating members, through the Ocean Alliance, have provided first-class services to their respective clients. Service advantages include shorter transportation times, competitive voyage frequencies, and the most comprehensive port network coverage.

As of this year, the alliance has adhered to applicable laws and regulations for seven consecutive years, contributing to ensuring the stability of the supply chain.

The Ocean Alliance, as a stable, reliable, and trustworthy cooperative alliance, currently covers seven major east-west trade routes, serving as a link connecting Asia with Northern Europe, the Mediterranean, the Middle East, and the east and west coasts of North America.

All alliance members express their commitment to continue supporting customers' supply chains and businesses in the future, providing top-notch shipping solutions.

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