Three of the world’s largest steamship companies serving Asia, Europe and the United States have submitted  an important vessel sharing agreement to the Federal Maritime Commission for approval. The net effect of this filing, if gone unchallenged, would be to provide these three carriers with anti-trust immunity for implementing certain practices normally in violation of anti-trust statutes. The Federal Maritime Commission said it would accept public comment on the “P3 Network Vessel Sharing Agreement” of Maersk, Mediterranean Shipping and CMA CGM until midnight Friday, Nov. 29. Current law provides that if the commission takes no action to seek an injunction or require additional information, the agreement will become effective 45 days after the original filing date of Oct. 24, i.e., on Dec. 8.
Continue Reading Proposed Steamship Alliance Could Impact Global Shipping Market