Shipping giants shake up industry by partnering in vessel-sharing agreement


Danish shipping giant A.P. Moeller-Maersk and Germany’s Hapag-Lloyd are teaming up to form a new vessel-sharing agreement, shaking up the global lineup of shipping alliances.

The long-term deal announced last week—dubbed Gemini Cooperation—seeks to boost efficiencies and help accelerate the companies’ decarbonization efforts by delivering a flexible and interconnected ocean network, they said. The Wall Street Journal has the full story.