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Tuesday, June 03, 2014
By Chris Dupin
French liner carrier CMA CGM said Tuesday the European Commission has informed it, along with Maersk and Mediterranean Shipping Co., that it will not open proceedings in connection with their plans to create the vessel-sharing alliance known as the P3 Network.
Reuters quoted Antoine Colombani, commission spokesman for competition policy, as saying "At this stage, the commission does not intend to open proceedings in relation to P3 or G6."
CMA CGM said the commission will "follow P3 to ensure it remains in compliance with EU competition law."
The world's three largest container carriers first announced plans to form the P3 Network last year, which will allow them to share space on vessels moving between the major east-west container routes: Asia–Europe, transpacific and transatlantic. That was followed by an announcement by the G6 carriers -- APL, Hapag-Lloyd, Hyundai, MOL, NYK and OOCL -- that they would expand their cooperation in the Asia-Europe trade to include the transatlantic and transpacific.
CMA CGM said the P3 Network is subject to regulatory review in jurisdictions in North America, Europe and Asia.
In March, the U.S. Federal Maritime Commission decided to allow the P3 Network agreement to become effective in the United States and in April gave a similar nod to the G6.
CMA CGM explained that in the European Union the P3 Network was required to conduct a self-assessment. It said the P3 partners have been in voluntary discussions with the European Commission to confirm their view that the P3 is compliant with EU competition law.
"The P3 partners are pleased [with] the commission’s communication," said CMA CGM in a press release. "The partners will now continue their close cooperation with competition and maritime authorities in amongst others, China and South Korea, to address questions and to explain the nature of P3."
The P3 Network will operate about 250 ships with capacity of 2.6 million TEUs.
CMA CGM said "subject to the receipt of all relevant regulatory clearances (and the fulfilment of other conditions for completion), P3 is scheduled to start operations in the autumn of 2014."
Reuters quoted Antoine Colombani, commission spokesman for competition policy, as saying "At this stage, the commission does not intend to open proceedings in relation to P3 or G6."
CMA CGM said the commission will "follow P3 to ensure it remains in compliance with EU competition law."
The world's three largest container carriers first announced plans to form the P3 Network last year, which will allow them to share space on vessels moving between the major east-west container routes: Asia–Europe, transpacific and transatlantic. That was followed by an announcement by the G6 carriers -- APL, Hapag-Lloyd, Hyundai, MOL, NYK and OOCL -- that they would expand their cooperation in the Asia-Europe trade to include the transatlantic and transpacific.
CMA CGM said the P3 Network is subject to regulatory review in jurisdictions in North America, Europe and Asia.
In March, the U.S. Federal Maritime Commission decided to allow the P3 Network agreement to become effective in the United States and in April gave a similar nod to the G6.
CMA CGM explained that in the European Union the P3 Network was required to conduct a self-assessment. It said the P3 partners have been in voluntary discussions with the European Commission to confirm their view that the P3 is compliant with EU competition law.
"The P3 partners are pleased [with] the commission’s communication," said CMA CGM in a press release. "The partners will now continue their close cooperation with competition and maritime authorities in amongst others, China and South Korea, to address questions and to explain the nature of P3."
The P3 Network will operate about 250 ships with capacity of 2.6 million TEUs.
CMA CGM said "subject to the receipt of all relevant regulatory clearances (and the fulfilment of other conditions for completion), P3 is scheduled to start operations in the autumn of 2014."
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