The P3 Network will not be implemented following decision by the Ministry of Commerce (MOFCOM) in China

Today, the Ministry of Commerce (MOFCOM) in China announced that they have not given their approval to the P3 Network (P3).

On 24 March 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the US, and on 3 June 2014, the European Commission informed the P3 partners that it had decided not to open an antitrust investigation into P3 and had closed its file.

MOFCOM’s decision follows a review under China's merger control rules and is different from the positions of the FMC and the European Commission.

The P3 partners take note of and respect MOFCOM’s decision.

Based on the decision of the MOFCOM, Maersk Line, MSC and CMA CGM have agreed to end P3 implementation.

Current maritime services offered by CMA CGM and existing cooperations are maintained in full, offering an excellent quality of service to customers, ahead of the peak season.

With a presence on every continent through its network of 650 agencies, the Group will continue to deploy a strategy combining innovative transport solutions, financial discipline and excellence in customer service.

CMA CGM is confident that it will maintain its operating performance and continue to over-perform the industry.

About P3
P3 is a long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line.
On 18 June 2013, Maersk Line, MSC Mediterranean Shipping Company S.A. and CMA CGM announced their intention to establish a long-term operational vessel sharing agreement on the East – West trades, called the P3 Network (P3). The overall aim of P3 was to make container liner shipping more efficient and improve service quality for – shippers – our customers - with more frequent and reliable services. P3 was intended to be an operational, not a commercial, cooperation.