Maersk and MSC will terminate the 2M alliance operation in 2025, and the maritime market may attract large-scale mergers and acquisitions in the future.
On January 25, 2023, MSC Mediterranean Shipping Company and Maersk jointly announced that they have agreed to terminate the operation of the 2M Alliance from January 2025.
In a joint statement, Mr. Vincent Clerc, CEO of A.P. Muller-Maersk and Mr. Soren Toft, CEO of Mediterranean Line, said:
"MSC and Maersk recognise that much has changed since the two companies signed a 10-year alliance agreement in 2015 and that terminating 2M alliance operations will pave the way for both companies to continue to pursue their respective strategic developments. We are very grateful for the partnerships previously established and look forward to continuing our strong cooperation for the remainder of the agreement." In the meantime, we remain committed to providing 2M Alliance services to MSC and Maersk's customers. ”
The January 25, 2023 announcement has no direct impact on current 2M Alliance service services. Both companies' customer service teams will communicate with their respective customers to assist them during this time and during the phasing out of the 2M Alliance.
2M Alliance Background:
2M is a container sharing agreement for container shipping companies
In 2015, Maersk signed an agreement with MSC to ensure competitive and cost-effective operations on Asia-Europe, transatlantic and trans-Pacific routes
The 2M Alliance Agreement is for a period of 10 years and requires 2 years' notice if terminated
Comments: Now that the shipping market is sluggish, it is possible that the shipping market and the freight forwarding industry will usher in large-scale mergers and acquisitions in the future.
First, some shipping companies pursue a large market, which requires more comprehensive route support, and this process acquisition is the most suitable.
Second, the market downturn will lead to the stock price of shipping companies, freight forwarders and other listed companies falling, to maintain the stock price and the company stable, then acquisition is also a way, acquisition can make the turnover rise, market influence increase, to achieve diversification, do not need huge investment, but also can integrate resources for the purpose.
Third, the market is sluggish, and acquisitions and mergers and acquisitions are also huddles, each taking what it needs.