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.
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