The European Commission announced late Tuesday that it has approved of the proposed shipping alliance known as P3 between three of the world’s largest market players.
According to reports, Moller-Maersk, the world’s largest shipping container company, Swiss-based Mediterranean Shipping Company and France-based CMA CGM will be allowed to proceed with their joint venture, first announced in March. The companies will operate P3 in routes between Asi and Europe, across the Pacific, and across the Atlantic.
Regulators in China are readying to announce their decision on the P3 alliance, reports say, and are expected to also approve of the plans.
News of the Commission’s clearance follows in the same week reports emerged that top shipping container companies, including Maersk and MSC, are looking to settle a price-fixing probe launched by the EU regulator without receiving fines.
Reports say the Commission also approved of the proposed G6 shipping alliance, made up of German’s Hapag-Lloyd, Hyundai Merchant Marine, Mitsui Lines, Nippon Yusen Kaisha and Orient Overseas.
Full content: Reuters
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