This Journal of Commerce graphic shows the massive scope of the proposed P3 Alliance.
Last week, shipowners in China have voiced anticompetition concerns in the wake of the proposed alliance, to be known as P3. China Shipowners’ Association (CSA) has voiced concerns to the government over the P3 alliance, saying that its massive scale could create unfair competition in the container shipping markets.
The industry group has vowed to monitor the market shares of the P3 members Maersk if the network is to begin operation in the second quarter of 2014 as announced. CSA, whose members include top Chinese state like players Cosco Container Lines and China Shipping Container Lines, indicated it would take “necessary measures” to protect fair competition should abnormal market fluctuations occur after the new network takes effect.
Earlier, the US Federal Maritime Commission Chairman, Mario Cordero, has issued a call to fellow regulators in the European Union and the People’s Republic of China to join him in a Global Regulatory Summit on the proposed alliance.