CMA CGM unveils container shipping alliance with CSCL, UASC

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PARIS (Sept 9): France's CMA CGM, the world's third-largest container shipping firm, said on Tuesday it has signed agreements with China Shipping Container Lines and United Arab Shipping Company to share services on routes to and from Asia.

The alliance, known as Ocean Three, will cover Asia-Europe, Asia-Mediterranean, Transpacific and Asia-United States East Coast trade routes, CMA CGM said in a statement.

The agreements are pending approval from the U.S. Federal Maritime Commission, it said.

The alliance comes after CMA CGM's planned service-sharing alliance with larger rivals Maersk Line Mediterranean Shipping Co was vetoed by China earlier this year.