CMA CGM, Cosco to form four-way shipping alliance

PARIS (REUTERS) - France's CMA CGM and China's COSCO Container Lines are to form a four-way vessel-sharing alliance with Evergreen Line and Orient Overseas Container Line focused on Asia routes, CMA CGM said on Wednesday.

The partners plan to begin operations in April 2017 for an initial period of five years, CMA CGM said in a statement.

The partnership, called "Ocean Alliance", would involve a fleet of 350 container ships and in a first stage cover more than 40 services, the French group said.