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Global Shippers Forum welcomes EU promise to monitor P3 alliance
THE Global Shippers Forum has welcomed the European Commission's promise to monitor the P3 Network, but it has warned the carriers they must deliver on their promise of service improvements.
Following news that Maersk Line, Mediterranean Shipping Co and CMA CGM tie-up would not come under European Commission scrutiny, GSF secretary-general Chris Welsh said it had asked the commission to scrutinise P3.
It had also requested regular monitoring of the agreement and the provision of "specific information by the P3 lines to assist the commission in monitoring compliance with the competition rules".
The GSF called on the shipping lines to provide the European Commission with reports on service performance on specific port pairs and vessel withdrawals, including short-term withdrawals that might cause disruption to shippers' supply chains.
It also asked for information about future investment plans, including future joint investment strategies that would impact on future capacity availability in the markets in which the P3 will operate, reported Lloyd's List.
"Effective monitoring of P3 compliance with European Union competition rules is absolutely essential in view of the unprecedented market power of the world's three largest lines represent over a 40 per cent market share," said Mr Welsh.
"If there are any signs of a reduction in service quality or elimination in effective competition in the liner market, we would expect immediate action by the European Commission against the P3," he said
Following news that Maersk Line, Mediterranean Shipping Co and CMA CGM tie-up would not come under European Commission scrutiny, GSF secretary-general Chris Welsh said it had asked the commission to scrutinise P3.
It had also requested regular monitoring of the agreement and the provision of "specific information by the P3 lines to assist the commission in monitoring compliance with the competition rules".
The GSF called on the shipping lines to provide the European Commission with reports on service performance on specific port pairs and vessel withdrawals, including short-term withdrawals that might cause disruption to shippers' supply chains.
It also asked for information about future investment plans, including future joint investment strategies that would impact on future capacity availability in the markets in which the P3 will operate, reported Lloyd's List.
"Effective monitoring of P3 compliance with European Union competition rules is absolutely essential in view of the unprecedented market power of the world's three largest lines represent over a 40 per cent market share," said Mr Welsh.
"If there are any signs of a reduction in service quality or elimination in effective competition in the liner market, we would expect immediate action by the European Commission against the P3," he said
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