The three parties behind the comprehensive P3 alliance - Maersk Line, MSC, and CMA CGM - will be de facto bound to each other for ten years, says SeaIntel in a review of the agreements that form the basis of the future major alliances in the container industry: P3, G6 and CKYHE.
Though each of the three P3 carriers can opt to leave the collaboration with a two-year notice period, the agreement also states that this notice can at the earliest be filed after an initial period of eight years. This means that the P3 partners are tied significantly stronger together than in the other alliances.
More from ShippingWatch
In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.