18-07-2017

Cosco new transpac king if regulators approve takeover of OOCL

oocl

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.

Source- Schednet

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