THE planned P3 mega-alliance, between the three biggest carriers in he world, is little different from other alliances that are aimed at cost cutting, said Hong Kong's OOCL executive director and acting chief financial officer Alan Tung.
P3 cost-focused like other alliances, difference is scale, says OOCL THE planned P3 mega-alliance, between the three biggest carriers in he world, is little different from other alliances that are aimed at cost cutting, said Hong Kong's OOCL executive director and acting chief financial officer Alan Tung.
"P3 is a significant event in the market. It's three independently minded carriers coming together. This allows them to rationalise themselves and offer, possibly, a better product," said Mr Tung.
Mega-ship members of the P3, already dominating the Asia-Europe trade lane, control more that half of the container tonnage in the market and 80 per cent of ships in the 14,000 TEU plus range.
The G6 team-up, a countermeasure to the Daily Maersk service in 2011, consists of OOCL, APL, Hapag-Lloyd, Hyundai Merchant Marine, MOL and NYK.
"At a macro level, the number of services will come down, meaning more cascading, which is not necessarily good news. Ultimately we need to wait and see," said Mr Tung.