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The P3 network has been blocked by China

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  • #1

    The P3 network has been blocked by China

    China blocked the formation of a global alliance by the world?s three biggest shipping lines, ignoring Western approval of the plan and sending A.P. Moeller-Maersk shares tumbling the most in two years.


    The Chinese Ministry of Commerce said late yesterday that the proposed P3 vessel-pooling accord, which also included Mediterranean Shipping Co. and CMA CGM SA, would ?restrict competition? on the busiest Asia-Europe container routes.

    See more HERE
    "Any damn fool can navigate the world sober. It takes a really good sailor to do it drunk." - Sir Francis Chichester.
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  • #2
    That was out ages ago on gcaptain! Latest is that Maersk and MSC are looking at setting up another alliance

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    • #3
      Was thinking that, got canned last month, new is 2M or some such, MSC - Maersk using VSA rather than setting up a seperate entity.

      What is odd is they want ompetition to keep prices down (good thing) but eventually you are left with 1 or 2 big players and prices rise (bad thing)

      Expect more new alliances CMA - Maersk, CMA - MSC and voila we'll have P3 in all but name ;-)
      Trust me I'm a Chief.

      Views expressed by me are mine and mine alone.
      Yes I work for the big blue canoe company.
      No I do not report things from here to them as they are quite able to come and read this stuff for themselves.


      Twitter:- @DeeChief

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      • #4
        I guess when overcapacity comes back down they'll split and do their own thing again so they can make bigger profits

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        • #5
          yeah cos USD1 Billion is just not quite enough ;-p
          Trust me I'm a Chief.

          Views expressed by me are mine and mine alone.
          Yes I work for the big blue canoe company.
          No I do not report things from here to them as they are quite able to come and read this stuff for themselves.


          Twitter:- @DeeChief

          Comment

          • #6
            Why only settle for 1 when you can make 2, or 3, or more?! You could build an even swankier house and have more overpriced gas guzzlers in the garage! :P

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