This collaborative effort is poised to reshape the landscape of global shipping and signals a significant shift in the market.
The Gemini Cooperation, set to be operational from 1 February 2025, will encompass a formidable fleet pool comprising approximately 290 vessels, boasting a combined container capacity of 3.4 million containers (TEU). The deployment plan allocates 60% of the fleet to Maersk and 40% to Hapag-Lloyd.
Hapag-Lloyd will officially exit THE Alliance on January 31, 2025, which it currently shares with HMM, Ocean Network Express, and Yang Ming. The dissolution of the 2M alliance, announced by Maersk and MSC in January 2023, is also set to take effect in January 2025.
A key objective of the Gemini Cooperation is to achieve schedule reliability exceeding 90% once fully implemented. The new alliance also promises to enhance service quality and reduce transit times along major port-to-port corridors.
Rolf Habben Jansen, CEO of Hapag-Lloyd, expressed optimism about the agreement, emphasising its potential to enhance customer service quality, operational efficiency gains, and joint efforts to expedite the decarbonisation of the shipping industry.
Vincent Clerc, CEO of Maersk, lauded Hapag-Lloyd as the "ideal ocean partner" for their strategic journey. He highlighted the alliance's commitment to providing customers with a flexible and reliable ocean network, strengthening their integrated logistics offerings.
The envisioned network is anticipated to cover diverse routes, including Asia to both US coasts, traversing Asia through the Middle East and India into Europe and beyond. Fourteen shuttle services will be centralised around regional hubs.
The remaining members of THE Alliance now face challenges to match the scale and capabilities of the Gemini Cooperation or the Ocean Alliance (COSCO, OOCL, CMA CGM & Evergreen).
Shipping industry experts now foresee a potential shakeup of alliances, speculating that the remaining members of THE Alliance may need to attract new partners or innovate new service concepts to stay competitive.