P3 Shippers Pleased with EU Affirmation

By Eric Haun
Tuesday, June 03, 2014
Photo courtesy of CMA CGM

The P3 Network – the long-term operational vessel sharing agreement proposed by CMA CGM, MSC and Maersk Line is subject to regulatory review in jurisdictions in North America, Europe and Asia.

In the European Union (EU), the P3 Network was required to conduct a self-assessment. Since its conclusion, the P3 partners have been in voluntary discussions with the European Commission to confirm the P3 partners’ view of P3 being in compliance with EU competition law.

Today, the European Commission informed the P3 partners that the Commission will not open proceedings in connection with P3. The Commission will follow P3 to ensure it remains in compliance with EU competition law.

The P3 partners are pleased the Commission’s communication. The partners will now continue their close cooperation with competition and maritime authorities in amongst others China and South Korea to address questions and to explain the nature of P3.

On 24 March 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the U.S.

On 18 June 2013, CMA CGM, Maersk Line, and MSC Mediterranean Shipping Company S.A. announced their intention to establish a long-term operational vessel sharing agreement on the East – West trades, called the P3 Network (P3). The overall aim with P3 is to make container liner shipping more efficient and improve service quality for the shippers - our customers - due to more frequent and reliable services.

P3 pointed out that it will be an operational, not a commercial, cooperation. The P3 Network vessels will be operated independently by an independent vessel operating centre. The three partners will remain competitors with fully independent sales, marketing and customer service functions and pricing policies. Subject to the receipt of all relevant regulatory clearances (and the fulfillment of other conditions for completion), P3 is scheduled to start operations in the autumn of 2014.
 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

OTC Names Technology Award Winners

The Offshore Technology Conference (OTC), which takes place May 4-7 in Houston, has announced 17 technologies that will receive the Spotlight on New Technology SM Award.

Jack W. Fisher Passes Away at 73

Jack W Fisher, president of JW Fishers Mfg. passed away at home after a brief illness on February 20, 2015. He was 73 years old.   The JW Fishers business was started because Fisher,

Piracy Still a Big Threat in the Indian Ocean

Underestimating the security risk in the Indian Ocean could put ships in danger once again, says maritime security company MAST Ltd.   “Whilst recent reports

Container Ships

IACS Comments on MOL Comfort Report

The International Association of Classifications Societies (IACS) informs it will study the final report issued in Japan by the Committee on Large Container Ship Safety (CLCSS),

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

Port of San Pedro Seeks to Fund Upgrades with European Roadshow

Ivory Coast's second largest port of San Pedro will hold a roadshow in France and Britain next month as it seeks to raise 180 billion CFA francs ($300 million) to fund upgrades,

News

OTC Names Technology Award Winners

The Offshore Technology Conference (OTC), which takes place May 4-7 in Houston, has announced 17 technologies that will receive the Spotlight on New Technology SM Award.

Jack W. Fisher Passes Away at 73

Jack W Fisher, president of JW Fishers Mfg. passed away at home after a brief illness on February 20, 2015. He was 73 years old.   The JW Fishers business was started because Fisher,

Global LNG-Asia Prices Creep Higher on Japanese Demand

Asian spot liquefied natural gas prices edged higher as scattered demand from Japanese buyers and others helped stem the recent decline in prices, traders said on Friday.

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2013 sec (5 req/sec)