Shipping firms form Asia-to-Europe alliance — WSJ

Some of the world’s biggest container operators, including China’sCosco Group and France’sCMA CGM, agreed to form a new shipping alliance that will rival the dominance of giants Maersk Line and Mediterranean Shipping Co. in the lucrative Asia-to-Europe ocean trade. The new grouping, to be called the Ocean Alliance, also will include Hong Kong’s Orient Overseas Container Line and Taipei-based Evergreen Marine. Tyson Foods Inc., which exports more than 50,000 ocean containers of frozen food and other animal products annually, asked the Senate Commerce Committee on Wednesday to press the Federal Maritime Commission for “a more thorough review of these foreign carrier alliances to ensure that their actions do not result in a logistics network within the ports that adds more truck trips and congestion to an already overloaded port infrastructure.” Read More