THE P3 mega alliance, made up Maersk, MSC and CMA CGM, have rented temporary quarters in London, having received a passing grade from the US Federal Maritime Commission (FMC) and now await approval from China and indications from EU.
China, which appears to regard the network as a merger rather than a vessel-sharing agreement, has yet to give its approval. The European Commission is expected to indicate its attitude mid-May, reports Lloyd's List.
P3 offices have been leased in London until the end of the year, with another planned in Singapore, said CMA CGM executive officer Rodolphe Saad.
Rival alliances have expanded in response, with Mr Saade saying a new business model was needed for the container shipping industry to remain profitable.
"P3 will allow us to provide the best economic model by deploying the largest vessel size," Mr Saade said.
"We believe, on the other hand, that more and more alliances will take place in the form of P3, the G6, and the CKYHE, where shipping lines join forces on the operational side and offer their customers a much better product than they do today," he said.
CMA CGM has enlarged six ships it ordered from 16,000 to 17,700 TEU to be compatible with Maersk and MSC tonnage.
Mr Saade said three ships are being built in Shanghai, saying China was able to offer financing packages that were not available elsewhere.
He also said Chinese yards had shown more flexibility than the South Koreans during the recent crisis when lines struggled to cancel or delay newbuilding orders as losses mounted, and had proved easier to work with.
WORLD SHIPPING
15 April 2014 - 03:30
P3 readies for operations in 3 months, opens temporary offices in London
THE P3 mega alliance, made up Maersk, MSC and CMA CGM, have rented temporary quarters in London, having received a passing grade from the US Federal Maritime Commission (FMC) and now await approval from China and indications from EU.
WORLD SHIPPING
15 April 2014 - 03:30
P3 readies for operations in 3 months, opens temporary offices in London
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