Americas News
U.S. Regulators Delay P3 Approval
The U.S. Federal Maritime Commission (FMC) said Thursday that it is seeking more information from the container shipping lines collaborating on the planned P3 Alliance, lengthening the approval process.
The regulatory body said a notice of its request will be published next week, announcing a 15-day public comment period.
Once the parties to the alliance submit the requested information, a new 45-day regulatory review period will begin.
Commissioner William P. Doyle said he voted in favor of the request in part so that concerns raised by shipping interests including the National Industrial Transportation League, the International Longshoremen's Association, and the Global Shipper's Forum can be addressed.
"I appreciate the comments submitted to the FMC, including those by consumers, small businesses and ports; it is helpful in meeting our mission as we give due examination to the proposed agreement," Doyle said.
"I trust that the P3 Parties will thoroughly address all the questions posed from the Commission."
The FMC, along with European Union (EU) and Chinese regulators, will discuss the planned alliance of Maersk Line, Mediterranean Shipping Co. S.A. (MSC), and CMA CGM S.A. at a summit on December 17.
The Wall Street Journal reports that industry officials do not expect approvals of the alliance until an EU investigation into price-fixing by shipping companies is completed, and EU officials say there is no deadline for that process.
An official of the Chinese Shipowners' Association (CSA) said last week that the P3 Alliance will not be a threat to Chinese shipping lines as long as it follows anti-competitive practices.
