2M Alliance Approved

Yesterday the Federal Maritime Commission approved the 2M alliance involving Maersk Line and Mediterranean Shipping Company. The vote outcome was four in favor and only one dissenting.

The one remaining obstacle the 2M alliance faces is the approval of Chinese regulators, as the alliance is already in compliance with the European Union and now has received the approval of U.S. regulators. The 2M alliance, if approved by all parties, is scheduled to take effect January 2015 and is projected to involve a total of 185 vessels and handle over 2.1 million TEUs.