The US Federal Maritime Commission (FMC) has cleared the P3 alliance of container lines Maersk Line, CMA CGM and Mediterranean Shipping Co (MSC).
World infrastructure is often measured by whether the trains run on time, but is there anyone who can make boxships run on time?
Two separate reports from analysts at Drewry Maritime Research and SeaIntel have recorded discouragingly low reliability figures for container trades recently, with industry average on-time delivery percentages dropping throughout every consecutive quarter of 2013. As of Q4, average reliability was at 63.8% - the lowest it has been since 2011.
The world’s top 20 container lines on average made a net loss of $16 for every teu they carried over the five year period covering 2008 - 2012, according to a report from consultants Dynamar.
The US Federal Maritime Commission (FMC) has requested more information and documents of the proposed P3 alliance.
The US Federal Maritime Commission (FMC) has set a date of 17 December for its global regulatory summit on the P3 alliance.
Maersk Line, MSC and CMA CGM, the three lines hoping to form the groundbreaking P3 alliance, are all under investigation and subject to legal proceedings for price fixing by the European Commission (EC).
AP Moller-Maersk Group has affirmed that there will be no commercial cooperation among its P3 Network alliance members to dominate the container shipping market share, amid concerns raised on potentially breaching competition law and compromising the spirit of free trade