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BYLINE: PETER T. LEACH
The world's three largest container lines have entered into the biggest-ever vessel-sharing agreement in the trans-Pacific trade that will enable them to replace four of their own individual services.
Maersk Line, Mediterranean Shipping Co. and CMA CGM announced that they will pool their vessels in three new strings of five vessels each between Asia and North America that will replace Maersk's TP5 and TP8, the New Orient Service of MSC, and the Yang Tse Service operated by CMA CGM. The three new services will start in April.
"Rates have not supported our cost to serve on different products in the Pacific," said Vincent Clerc, …