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

People & Company News

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Container Ships

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Hamburg Süd Christens Third San Class Ship

Hamburg Süd christened its third container vessel in the new San class yesterday, officially naming newbuild San Vicente at the Cuenca del Plata terminal in Montevideo.

Asia-Europe Box Rates Fall Almost 6 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday,

News

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1888 sec (5 req/sec)