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Leading Shipping Firms To Form Operational Alliance

by Ulrika Lomas, Tax-News.com, Brussels

19 June 2013


The world's three largest shipping lines by capacity, Maersk Line, Mediterranean Shipping Company and CMA CGM, are eying the formation of an operation alliance, subject to approval from the relevant competition and regulatory authorities.

An announcement from Maersk Line confirming the proposed alliance said the initiative would include pooling 255 vessels, or vessels with capacity for 2.6 million twenty-foot equivalent units, to operate jointly on Asia-Europe, trans-Pacific and transatlantic routes.

Maersk Line is optimistic the plans will be approved as the companies will retain fully independent sales, marketing and customer service functions. The P3 Network, as the partnership will be known, will be coordinated from a joint operating center.

Maersk said the alliance would serve to improve each of the companies' operational efficiency allowing the firms to achieve higher profits on routes that are suffering from overcapacity and rock-bottom rates. The alliance will improve the companies' utilization of vessel capacity, and offer clients a more consistent service with fewer cancellations, Maersk said.

TAGS: marine

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