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.

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