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With Partnership In The Maritime Transport Sector Since 2015, MSC And Maersk Announce The End Of The 2M Alliance. Contract Signed 8 Years Ago Was Beneficial For Both.
Long-time partners, MSC and Maersk announced that they will break their strategic ties in 2025, marking a decade of the project known as 2M. The partnership was agreed upon in 2015 and had a minimum duration of 10 years. The contract signed 8 years ago divided maritime transport routes, providing greater competitiveness in the cargo business between Asia and Europe and in the Pacific and Atlantic regions.
See One Of The Giant Ships Used By Maersk Arriving At The Port Of Itajaí (SC)
The Breakup Of The Partnership Between The Companies Was Realized Within The Stipulated Time
When the contract was announced, there was a clause stating that if either party opted to break the alliance, they needed to give a two-year notice, which indeed happened.
Despite the announcement of the breakup, managers from both companies assured that the connections between them will continue until the remaining two years of the contract come to an end and that there will be no impact on customers using the routes covered by the 2M alliance.
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According to Vincent Clerc from Maersk and Soren Toft from MSC: “MSC and Maersk recognize that a lot has changed since the two companies signed the 10-year agreement in 2015. Discontinuing the 2M alliance paves the way for both companies to continue pursuing their own strategies,” the experts concluded in a joint statement.
Understand A Little More About The Relationship Between MSC And Maersk And How The 2M Alliance Benefited Both
Maersk has over 100,000 employees, operating in 130 countries. US$ 62 billion was generated in 2021 alone, which is more than 55% of the previous year.
Furthermore, in 2021, MSC was expected to grow more than its partner, according to the Financial Times, as its revenue is less than half of that.
According to the newspaper, combining fleet capacity along with ship orders, MSC anticipated having a larger fleet than Maersk.
Before the pandemic, the company reported annual revenues exceeding US$ 25 billion.
During the pandemic, maritime transport benefited from a surge in freight prices. Now, the main concern is the decarbonization of its business, seeking to incorporate ships with lower polluting emissions into the fleet.
