The U.S. Federal Maritime Commission (FMC) has approved the Gemini Cooperation Agreement, allowing shipping giants Maersk and Hapag-Lloyd to collaborate on vessel sharing. Despite initial delays to gather further information, the FMC confirmed the agreement will take effect on September 9, 2024.
The agreement, which involves Maersk A/S, Hapag-Lloyd AG, and Hapag-Lloyd USA, permits the companies to share vessels on routes between the U.S., Asia, the Middle East, and Europe. The FMC stated the collaboration is unlikely to reduce competition, raise transportation costs, or affect service quality. However, the Commission will closely monitor the agreement.
Originally filed on May 31, 2024, the agreement faced a temporary hold as the FMC requested additional data to assess its economic impact. Preparations for Gemini are progressing, with services expected to begin in early 2025.
Source: FMC, Alphaliner
