MARSEILLE: "Ocean Three" is the name of a new capacity sharing agreement between CMA CGM, China Shipping Container Lines (CSCL) and the United Arab Shipping Company (UASC).

Assuming approval by the U.S. Federal Maritime Commission, the three box lines will share vessels, exchange slots and charter slots on Asia-Europe, Asia-Mediterranean, Transpacific and Asia-U.S. East Coast trade lanes by the end of 2014.

CMA CGM says "Ocean Three" will be offering six departures a week between major Asia and Europe ports and four weekly services from Asia to the Mediterranean region - including one to the Adriatic and the only service to the Black Sea.

In addition the group plans to operate four transpacific sailings a week to California plus one to the Pacific Northwest; and finally twice a week from Asia to the U.S. East Coast – one via the Suez Canal and one to the Gulf of Mexico.

An agreement on transatlantic routes is currently being finalised says CMA CGM. When complete, the three box lines will have 13 percent of transpacific capacity and 20 percent of Asia-Europe and operate 159 vessels with 1.5 million TEUs to 93 ports in three main trades.

Rodolphe Saadé, CMA CGM vice chairman commented: "We are very pleased to have signed these three agreements with such reputable partners, whom we both know and appreciate. This will allow us to propose to our clients a high quality and reliable alternative to existing services on the market."