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Cosco new transpac king if regulators approve takeover of OO

Cosco new transpac king if regulators approve takeover of OO

sofreight.com sofreight.com 2022-11-22 10:45:41

CONTAINER shipping company rankings will again be upset if the Cosco's buyout of Hong Kong's premier shipping company, Orient Overseas Container Line, meets regulatory approval.
 
The would-be merger would displace French shipping giant CMA CGM from its No 3 spot behind Denmark's Maersk Line and the Italian Swiss Mediterranean Shipping Co (MSC).
 
The transpacific container shipping market is set for a fundamental change if Cosco completes its acquisition, according to Alphaliner.
 
Cosco's current transpacific market share of 11.2 per cent added to OOCL's 6.9 per cent will create a new market leader with an 18.1 per cent share, said Alphaliner.
 
Cosco, OOCL, CMA CGM and Evergreen are partners in the Ocean Alliance. Together they are creating the largest-capacity Asia-US east coast service through the Panama Canal.
 
CMA CGM revealed that this summer its will phase in the 14,400-TEU CMA CGM T Roosevelt and CMA CGM J Adams newbuildings into the alliance's AWE5/SAX/ECX1/AW5 service.
 
These will replace two 11,300-TEUers, reports Alphaliner, giving the service "the distinction of being the first service in the trade that exclusively deploys tonnage of 13,000-TEU or more.
 
While a 13,000-TEU capacity had been considered the biggest that can transit the expanded Panama Canal, new designs can increase capacity, notes London's Loadstar.
 
"The vessels have a length of 366 metres and a breadth of 48.2 metres (19 deck rows), which corresponds to the dimensions of standard maxi-neo-panamaxes rated at just over 13,000 TEU.
 
"Their increased capacity is achieved thanks to a fuller hull shape, allowed by a lower speed, and by an optimised deck cargo configuration," said Alphaliner.