Officials from China, Europe, US review planned container alliance
By Zhong Nan | China Daily | Updated: 2013-12-19 08:14
Maritime officials from China, the United States and the European Commission held their first joint meeting on Tuesday in Washington to review the proposed P3 Network, a pooling arrangement among the world's three largest operators of container vessels.
Denmark-based A.P. Moller-Maersk Group, Mediterranean Shipping Co SA of Switzerland and French carrier CMA CGM SA agreed in June to establish the long-term operational alliance on East-West routes to optimize resources and lower the cost of container shipping.
The alliance will operate total capacity of 2.6 million 20-foot equivalent units, initially using 252 large-capacity vessels on 28 loops on three trade lanes: Asia-Europe, trans-Pacific and trans-Atlantic.
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