GSF welcomes monitoring of compliance of P3

By Joseph R. Fonseca
Thursday, June 05, 2014
Global Shippers' Forum

 The Global Shippers' Forum has welcomed confirmation that the European Competition Commission will closely monitor the P3 for compliance with EU competition rules.

GSF Secretary General, Chris Welsh, said,"The GSF has asked the Commission to closely scrutinise the P3 to ensure the Agreement is in line with the general provisions of the EU competition guidelines.  We have also requested regular monitoring of the Agreement and the provision of specific information by the P3 lines to assist the Commission in monitoring compliance with the competition rules."

GSF believes the P3 should assist the Commission in monitoring compliance by providing reports on service performance on specific port pairs, vessel withdrawals including short-term withdrawals that might cause disruption to shippers' supply chains, and information about future investment plans including future joint investment strategies that would impact on future capacity availability in the markets in which the P3 will operate.

Chris Welsh said,"The P3 lines must now to step up to the plate and deliver on their promises of improved services and lower costs.  Shippers will expect to see a wider range of services, enhanced service performance including improved service reliability and on time delivery.  Above all, shippers expect to share in the benefit of more competitive freight rates through reduced costs."

Chris Welsh added, "Effective monitoring of P3 compliance with EU competition rules is absolutely essential in view of the unprecedented market power of the world's three largest lines that collectively represent over 40% market share in the world's main liner trades, including over 46% market share in the Asia-Europe market.  If there are any signs of a reduction in service quality or elimination in effective competition between the P3 lines and in the liner market generally, we would expect immediate action by the European Commission against the P3 lines, including the imposition of appropriate sanctions for competition abuses."

 


Contracts

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up

Finance

SOS from Hanjin Shipping

The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

Container Ships

Maersk Line's Innovative Smart Reefers

Have you heard about Maersk Line's smart reefers that can listen and talk? Cutting edge technology that reduces risk in customer supply chain, claims Maersk Line.

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Hapag-Lloyd: UASC Merger Benefits to show in 2017

German container shipping line Hapag-Lloyd expects to reap a third of targeted annual synergies of $400 million from the planned merger with Arab rival UASC already next year,

News

NASA May Send Submarine to Titan

NASA has unveiled plans to send a submarine into the depths of the largest ocean of Saturn's biggest moon, Titan in a bid to explore the depths of its largest ocean.

Michelle Obama Sponsors Attack Submarine

General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP.

MV WERFTEN, Foreship Sign Design Agreements

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design,

Insurance

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Vitol's Malaysia Terminal Suspends Ops after Spill

VTTI, the storage unit of world's largest oil trader Vitol, has suspended operations at its terminal in southern Malaysia following an oil spill, two industry sources said on Friday.

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

Consulting

MN100: TPG Marine Enterprises, LLC

The Company: TPG Marine Enterprises, LLC is an operations, logistics and consulting company that specializes in all aspects of cargo movement on the Inland Waterways System.

MN100: Safety Management Systems, LLC

The Company: A leading US maritime consultancy established in 1996, SMSLLC provides practical risk mitigation solutions for vessel operators and stakeholders.

Newbuild Volatility to Alter Future Shipping Cycles -MSI

Independent research and consultancy firm Maritime Strategies International (MSI) has forecast a structural change to future shipping cycles, driven by increased volatility in newbuilding activity.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.1142 sec (9 req/sec)