P3 Network

P3 Network: Maersk Line, Mediterranean Shipping Co and CMA CGM had filed detailed proposals of their planned vessel-sharing agreement, due to come into force in 2014, with the US federal maritime regulator on October 24.

Federal Maritime Commission chairman Mario Cordero is backing US shippers in the face of plans by the world’s three largest container lines for the P3, what he called an “unprecedented” alliance that could control up to 42% of traffic on key trade lanes.

“An alliance is not unprecedented. What is unprecedented about this particular alliance – where you have three of the largest carriers in the world coming together – is its size, or extent,” Mr Cordero (pictured) told The Loadstar, on the sidelines of Air Cargo Americas 2013 in Miami.

Mr Cordero said there were positive aspects to P3, but he had concerns about the impact of an alliance that could control up to 42% of the Asia-to-Europe trade, 24% of transpacific routes and 40–42% of the transatlantic.

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