In a joint statement issued this morning, MSC Mediterranean Shipping Company (MSC) and Maersk A/S, announced their decision to dissolve their 2M alliance. The statement read, the carriers "have mutually agreed to terminate, effective in January 2025, the present 2M alliance." "MSC and Maersk recognize that much has changed since the two companies signed the 10-year agreement in 2015. Discontinuing the 2M alliance paves the way for both companies to continue to pursue their individual strategies," said Maersk CEO Vincent Clerc and CEO Soren Toft of MSC. "We have very much appreciated the partnership and look forward to a continued strong collaboration throughout the remainder of the agreement period. We remain fully committed to delivering on the 2M alliance’s services to customers of MSC and Maersk." The statement assured customers that the announcement "has no immediate impact on the services provided to customers using the 2M trades." Introduced in 2015, the vessel-sharing agreement concluded by the two shipping giants aimed at ensuring competitive and cost-efficient operations key trade lanes. The agreement had a 10-year minimum term and a 2-year notice period of termination.