HMM, ONE, and Yang Ming form Premier Alliance
NewsHMM, ONE, and Yang Ming to continue cooperation under a new alliance named Premier Alliance.
ONE expands presence in Morocco
ONE eyes potential of rapidly developing markets of the African continent.
Ocean Network Express (ONE) has announced the launch of Ocean Network Express Morocco, a new joint venture with Universal Shipping, effective from 1 September 2024.
The new entity, based in Casablanca and Tangier, aims to enhance ONE’s services in Morocco.
“The new ONE joint venture company will provide quality and reliable shipping services and digital solutions to customers based in Morocco, with a strong focus on customer satisfaction. This strategic move aims to accelerate ONE’s growth and expand its presence in the rapidly developing markets of the African continent,” the company said.
Read also: ONE raises FY2024 profit forecast to US$2.74 b
Morocco
Over the past few years, Morocco has implemented a policy of liberalising the maritime transport sector and developing competitive ports, backed by an advanced legal framework for port construction, maintenance, and operation. This strategy includes an ambitious 2030 port development roadmap, encouraging participation from both public and private sectors, building on the success of Tanger Med.
Tanger Med expects to exceed its nominal processing capacity of nine million containers this year, according to Reuters. The port handled 8.61 million TEU last year, a 13.4% increase from 2022. In the first quarter of this year, tonnage at Tanger Med rose by 14.9% to 33.3 million metric tonnes, while revenue increased by 18.3% to US$1 billion.
Tanger Med’s growth is driven by its strategic location at the Mediterranean entrance, connections with 180 ports, and partnerships with major shipping companies like Maersk, Hapag-Lloyd, and CMA CGM. Despite some container ships re-routing around Africa to avoid Red Sea attacks, only 25% of its traffic is from the Red Sea, with most of its traffic coming from Africa, Europe, and the Americas, Reuters reports.
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