Liner shipping is one of the most important industries in the world characterized by a mix of structural layers of complexities, challenges and opportunities in liner shipping alliances globally. Strategic alliances, in the business of sea transport across the globe, have been of paramount significance concerning the efficiency of service, operating economics, and network alignment in the liner shipping sector. This paper employs game-theoretic concepts to explore strategic interrelations between shipping carriers functioning in an alliance environment. The analysis considers factors such as market dynamics, external influences such as horizontal and vertical cooperation, as well as technological, environmental and regulatory factors. The developed framework will be complemented with a case study on the 2M Alliance. By investigating the intricate dynamics of liner shipping networks through the lens of game theory, this study aims to build a foundation through game theory toward making decisions in an industry characterized by complexity and rapid changes.