After Chinese authorities surprisingly rejected the proposed P3 alliance between the world’s three largest shipping container firms, one of those shipping firms, Maersk, is now looking for a fallback plan.
Denmark-based Maersk spoke with reporters to discuss its next moves after the Chinese Ministry of Commerce ruled against the P3 partnership, which would have put Maersk in business with MSC and CMA CGM.
Despite the setback, Maersk said it will continue to strategically react to falling prices and overcapacity that has plagued the industry.
”We have different tools in our toolbox to activate,” Maersk said. “We have to look more at how we operate the fleet, at the speed of services.”
The three liners agreed last year to form the alliance, which was cleared by regulators in the US and EU.
Full content: Bloomberg
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