ShippingWatch

P3 rejection could benefit the charter market

The struggling container ship owners in countries such as Germany should be relieved that the world's three biggest carriers have abandoned their P3 alliance, according to Alphaliner.

Photo: Port of Gothenburg

German container ship owners in particular have reason to be pleased that the P3 alliance between the three largest container carriers Maersk Line, MSC, and CMA CGM - also the three biggest charterers in the industry - will not be realized following China's rejection of the collaboration.

According to Alphaliner the struggling charter market should benefit from the abortion of the P3 network alliance on Asia-Europe, which - had the alliance been realized - could have reduced the demand for ships, just as P3 would have served as a forceful power factor when negotiating with struggling tramp owners in the container industry, many of which are owned by German interests.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

One alternative fuel may be particularly dangerous

In a new study – which Maersk, Shell, Euronav and MSC Ship Management, among others, are behind – the new alternative fuels are ranked based on how dangerous they are. The industry has to be careful with one of them, in particular.

Further reading

Related articles

Latest news

See all jobs