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CSA President's Message – New alliances can help region – but we must be vigilant

The P3 Network Vessel Sharing Agreement between Maersk, CMA CGM and Mediterranean Shipping Company was approved by the US Federal Maritime Commission (FMC) on 20 March.

This agreement, which took effect on 24 March, authorises the parties to share vessels and act in a cooperative way in the trades between the USA and Asia, northern Europe and the Mediterranean.

According to the Journal of Commerce, the P3 Alliance will control 42 per cent of Asia-Europe capacity; 24 per cent of transpacific capacity and 42 per cent of transatlantic capacity.

Read more: CSA President's Message – New alliances can help region – but we must be vigilant