P3 Network a 'no-go' according to Chinese MOFCOM

The Ministry of Commerce (MOFCOM) in China recently announced that they have not given their approval to the P3 Network (P3).

On March 34, 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the US, and on June 3, 2014, the European Commission informed the P3 partners that it had decided not to open an antitrust investigation into P3 and had closed its file.

MOFCOM's decision follows a review under China's merger control rules and is different from the positions of the FMC and the European Commission.
The P3 partners took note of and respected MOFCOM's decision.

Based on the decision of the MOFCOM, Maersk Line, MSC and CMA CGM have agreed to end P3 implementation.
Current maritime services offered by CMA CGM and existing cooperation are maintained in full, offering an excellent quality of service to customers, ahead of the peak season.

With a presence on every continent through its network of 650 agencies, the group will continue to deploy a strategy combining innovative transport solutions, financial discipline and excellence in customer service.
 

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