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Fearnley: New Maersk alliance could explain stable rate hike

The new P3 alliance between the world's three largest container carriers, which is planned to come into effect in 2014, could already be part of the explanation why the spot rates on Asia-Europe are increasing significantly, says Fearnley.

The announced collaboration in the so-called P3 alliance with Maersk Line, Swiss MSC, and French CMA CGM, which will control approximately 40 percent of the container fleet on Asia-Europe if it receives final approval from the competitive authorities, could already at this time be part of the explanation why the rates have been increasing significantly in the past weeks.

This is the estimate of Oslo-based analysts Fearnley, which on Friday expressed its surprise that the container carriers' general rate increases since July 1st of up to USD 1,000 per twenty-foot container (teu) seem to be sticking across the board, after the publication on Friday of the benchmark Shangai Containerized Freight Index (SCFI).

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