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Vessel Carrier Alliances and Agreements to be Focus of Global Regulatory Summit

Wednesday, December 04, 2013
Sandler, Travis & Rosenberg Trade Report

The Federal Maritime Commission has announced that it will host a global regulatory summit Dec. 17 to discuss carrier alliances, vessel sharing agreements and the impact of operational agreements on international trade. Regulators from China and the European Union will attend the summit, which the FMC requested earlier this fall primarily to discuss the proposed P3 Global Alliance between the world’s largest container carriers, Maersk Line, CMA-CGM and Mediterranean Shipping. These carriers plan to begin cooperating in 2014 on routes between Asia and Europe, Asia and the U.S., and Europe and the U.S., and early estimates put the market control of such an alliance at about 42%, 24% and 40-42%, respectively.

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