EU Gives Green Light for P3 Network

The European Commission today informed the P3 partners that the Commission will not open proceedings in connection with P3 Network.

On 24 March 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network – the long-term operational vessel sharing agreement proposed by CMA CGM, MSC and Maersk Line – agreement to become effective in the US.

In EU, the P3 alliance 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.

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.

Background:

CMA CGM, Maersk Line and MSC Mediterranean Shipping Company SA agreed back in June 2013 to establish a long-term operational alliance on East – West trades, called the P3 Network. The aim is to improve and optimize operations and service offerings.

The P3 Network will operate a capacity of 2.6 million TEU (initially 255 vessels on 29 loops) on three trade lanes: Asia – Europe, Trans-Pacific and Trans-Atlantic.

While the P3 Network vessels will be operated independently by a joint vessel operating center, the three lines will continue to have fully independent sales, marketing and customer service functions.

[mappress]

June 4, 2014