Commission will not open proceedings in connection with P3
The P3 Network – the long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line is subject to regulatory review in jurisdictions in North America, Europe and Asia.
In the European Union (EU), the P3 Network was required to conduct a self-assessment. Since its conclusion, the P3 partners have been in voluntary discussions with the European Commission to confirm the P3 partners’ view of P3 being in compliance with EU competition law.
On 3 June 2014, the European Commission informed the P3 partners that the Commission will not open proceedings in connection with P3. The Commission will follow P3 to ensure it remains in compliance with EU competition law.
“In our self-assessment we concluded that the P3 Network is in compliance with the competition law in the European Union. We are pleased with the Commission’s communication and that they have decided to not open proceedings. We will now continue our close cooperation with competition and maritime authorities in amongst others China and South Korea to obtain their approvals.” says Vincent Clerc, Chief Trade and Marketing Officer, Maersk Line.
On 24 March 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the US.
About P3 |
On 18 June 2013, Maersk Line, MSC Mediterranean Shipping Company S.A. and CMA CGM announced their intention to establish a long-term operational vessel sharing agreement on the East West trades, called the P3 Network (P3). The overall aim with P3 is to make container liner shipping more efficient and improve service quality for the shippers – our customers – due to more frequent and reliable services. |
Source: Maersk Line