Maersk, CMA CGM in vessel-sharing deal

Maersk Line has new enhancements to the WestMed Service, serving the Mediterranean, North America trade. The new service is achieved in co-operation with French-based CMA CGM in a vessel-sharing agreement to commence in March 2009.

As part of the agreement, Maersk Line will operate four vessels and CMA CGM will operate one, with an average net capacity of 3500 TEU (twenty-foot equivalent units). The WestMed service will replace two existing services, the Amerigo service operated by CMA CGM and Evergreen, and Maersk Line's current WestMed. By combining two strings, about 2,900 TEU of weekly capacity will be removed from the trade, bringing needed stability to the market.

"The new WestMed Service is really the best of both worlds. We are expanding coverage and improving reliability and transit times to better serve our customers. And at the same time we deal pro-actively considering the economic climate, by taking out capacity in line with the softening demand from customers in the trade," said Soren Castbak Senior Director of Atlantic Product Management for Maersk Line. "By signing this two-year agreement, Maersk Line demonstrates its commitment to the Mediterranean, North America trade."

He said Maersk is a financially strong company, and will continue providing customers with the stability they require.

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