Singapore National Shippers’ Council (SNSC) said shippers across Asia were “delighted” by the China’s Ministry of Commerce (MofCom) to reject the proposed P3 alliance of Maersk Line, Mediterranean Shipping Co and CMA CGM.
“The sheer size would have given P3 the capability to dictate the direction of the freight market,” SNSC said.
The shippers’ council added it was a landmark decision second only to the European Commission’s repeal of block exemption for liner shipping conferences in 2008.
As such the move by China has given SNSC fresh heart in its longstanding battle for liner industry regulatory reform in Asia to tackle what it sees as cartel practices. “It has given us fresh hope going forward and energised our drive to work for maritime regulatory reform to bring an end to the ‘cartel system’ in liner shipping’.
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