On June 17th, 2014 the Chinese Ministry of Commerce (MOFCOM) decided to not approve the P3 Network, a proposed vessel sharing alliance between the world’s top three container shipping companies, the Mediterranean Shipping Company, CMA CGM, and Maersk Line. In light the Chinese Ministry's decision, the three container shipping leaders have decided to cancel all plans involving the proposed alliance.
In Maersk Line we have worked hard to address the Chinese questions and concerns. So of course it is a disappointment. P3 would have provided Maersk Line with a more efficient network and our customers with a better product. We are committed to continuing to be cost competitive and offer reliable services.- Chief Trade and Marketing Officer, Maersk Line.
Given the fact that all of the alliance partners worked hard to address the concerns regulators, the decision was a surprise and a deep disappointment.
The P3 alliance would have enabled Maersk Line to make further reductions in cost and CO2 emissions and not least improve its services to its customers with a more efficient vessel network. Nevertheless, I’m quite confident Maersk Line will accomplish those improvements anyway. It has delivered on those improvements over the last five quarters in the absence of P3 and I’m confident it will continue to do so.- Maersk Group CEO Nils S. Andersen.