P3 Network to operate a 2.6 million TEU capacity on Asia-Europe, Trans-Pacific and Trans-Atlantic trades
CMA CGM, Maersk Line and Mediterranean Shipping Company (MSC), the world’s three largest shipping lines, will create the largest ever alliance to operate on global trades through the formation of its P3 Network.
The P3 Network will offer a total of 29 loops, served by 255 vessels initially, and a capacity of 2.6 million TEU on the three major trade lanes, Asia-Europe, Trans-Pacific and Trans-Atlantic.
Maersk Line will contribute approximately 42 percent of the capacity, around 1.1 million TEU, and will include its newly delivered 18,000 TEU capacity Triple-E vessels, according to Lloyd’s Loading List.
MSC will provide around 34 percent of the capacity, around 0.9 million TEU, while French shipper CMA CGM will contribute 24 percent, or 0.6 million TEU.
In a joint statement, the three companies said that the P3 Network vessels will be operated independently by a joint vessel operating centre, while each line will continue to have fully independent sales, marketing and customer service functions.
The lines intend to launch the P3 Network in the second quarter of 2014. However, the start date will be subject to obtaining the approval of relevant competition and other regulatory authorities, and on the lines agreeing on definitive contracts.
The finalisation and signing of the contracts is planned for the final quarter of 2013 year.