Chinese authorities puts a stop to planned P3 Network
P3-network of MSC, CMA CGM and Maersk Line shipping companies will not be implemented following a decision by the Ministry of Commerce in China
As CMA CGM and Maersk announce in a press release, the Chinese Ministry of Commerce (MOFCOM) has not approved the P3 Network. P3 was a long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line. The MOFCOM’s decision follows a review under China’s merger control rules.
On 24 March 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the US, and on 3 June 2014, the European Commission informed the P3 partners that it had decided not to open an antitrust investigation into P3. P3 was scheduled to start operations in the autumn of 2014.
The P3 partners take note of and respect MOFCOM’s decision. Based on the decision of the MOFCOM, Maersk Line, MSC and CMA CGM have agreed to end P3 implementation.Current maritime services and existing cooperations are maintained in full.
P3 is a long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line. By mid-June 2013, Maersk Line, MSC Mediterranean Shipping Company S.A. and CMA CGM announced their intention to establish a long-term operational vessel sharing agreement on the East-West trades, called the P3 Network. The overall aim of P3 was to make container liner shipping more efficient and improve service quality for the customers – with more frequent and reliable services. P3 was intended to be an operational, not a commercial, cooperation, the shipping companies emphasise.
Quelle: LogEastics
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