Shipping alliance formed

The P3 Network will create a capacity of 2.6m teu on the asia to Europe, trans-pacific and trans-atlantic trade lanes. Under the arrangement, Maersk Line will contribute around 42% of the capacity, MSC 34% and CMA CGM 24%.

There will initially be 255 vessels servicing the routes on 29 loops controlled independently by a joint vessel operating centre.

Despite this joint effort, all three lines will continue to have fully independent sales, marketing and customer service functions. And vessels working the routes will continue to be owned and or chartered by the lines.

The new network aims to provide customers with a more stable, frequent and flexible service, meaning more weekly sailings and more direct ports of call. It’s also expected to minimise disruption caused by cancelled sailings.

It should begin operations in the second part of 2014 but this is subject to approval various competition and regulatory authorities.

Maersk says that volume growth and over capacity have underlined the need to improve operational efficiency, hence the network’s creation.

This is the latest alliance in an attempt to achieve better utilisation of vessel capacity following in the footsteps of other alliances such as G6 and CKYH.