Arab Today, arab today embattled shipping operators form alliance
Last Updated : GMT 17:39:45
Arab Today, arab today
Arab Today, arab today

Embattled shipping operators form alliance

Arab Today, arab today

Arab Today, arab today Embattled shipping operators form alliance

Paris - AFP

Three leading shipping companies announced an alliance on three crucial routes on Tuesday in a strategy to face over-capacity and declining demand for transportation. CMA CGM of France, Maersk Line of Denmark and Swiss MSC Mediterranean Shipping Company said that the new so-called P3 Network would initially use 255 ships on three trade lanes: Asia-Europe, Trans-Pacific and Trans-Atlantic. Anti-trust regulators are however certain to give the unprecedented alliance careful scrutiny as it puts the industry\'s biggest shippers in close cooperation with an overall capacity of 2.6 million standard-sized containers (TEU). Michael Foeth, an analyst at Vontobel said it was unclear whether such an alliance would carry over to pricing \"and whether regulatory bodies would allow any coordinated behaviour\" against competitors left outside the scheme. \"Coordinated pricing would in my view not be tolerated by regulators given the high fragmentation of the market,\" Foeth warned. Anne-France Malrieu, a spokeswoman at CMA CGM said there would be \"no effect on competition\" with each company continuing to choose its own prices and strategy. \"Declining volume growth and over-capacity in recent years have underlined the need to improve operations and efficiency in the industry,\" the companies said in a statement. In the scheme, each company will offer more shipping options to customers then they would individually \"through better utilisation of vessel capacity,\" they added. The companies intend to begin the programme in the second quarter of 2014, but the go-ahead still requires regulatory approval as well as finalised contracts linking the companies. Maersk Line, a unit of A. P. Maersk, will contribute 42 percent of the joint shipping force. Italo-Swiss company MSC will pitch in 34 percent and France\'s CMA CGM 24 percent. With world growth still yet to fully recover from the 2008 financial crisis, shippers are faced with declining traffic, lower volume demand and surging capacity as jumbo-sized ships come on line.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today embattled shipping operators form alliance Arab Today, arab today embattled shipping operators form alliance

 



Arab Today, arab today
Arab Today, arab today Rabia Fatima reveals role of "Facebook" in her career

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday