Hapag-Lloyd exits MSC and ONE Asia–South America pact

AI Summary

Hapag-Lloyd is leaving the existing three-carrier vessel-sharing arrangement for the Ipanema service between Asia and South America’s east coast. MSC and Singapore-based Ocean Network Express are restructuring their partnership after the current agreement ends.

Mediterranean Shipping Co (MSC) and Ocean Network Express are restructuring their vessel-sharing partnership between Asia and South America’s east coast, with Hapag-Lloyd dropping out of the existing three-carrier arrangement. MSC said that the current agreement covering the Ipanema service would end in its present form, leaving the Swiss carrier and Singapore-based ONE to operate the …