Hapag-Lloyd Annex Space Charter Deal with Maersk and MSC

BY Tiya Chatterji January 18,2019

German shipping giants Hapag-Lloyd has secured a space charter agreement with the members of the 2M Alliance – Maersk and Mediterranean Shipping Company (MSC).

The space charter agreement will commence in March 2020  giving the German carrier access to certain 2M services in the Asia-Europe trade. “The addition of these services will enable Hapag-Lloyd to offer an even higher frequency of weekly departures and more routing options as well as to directly serve additional ports with high schedule reliability,” the company said.

Hapag-Lloyd is a member of the Alliance with partners Yang Ming, Ocean Express Network (ONE), and new member Hyundai Merchant Marine. Maersk Line and MSC launched the 2M Alliance in 2015. The 10-year vessel sharing agreement operates in the Asia-Europe, trans-Pacific, and trans-Atlantic trades.

Earlier this month, Hapag-Lloyd declared it was considering investments in new ships. The orders are likely to target ultra large container vessels (ULCVs) with the capacity of up to 23,000 TEUs, with the company following in the footsteps of its rivals CMA CGM and MSC which have already deployed some of their box ship giants on the Europe-Asia route.