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).

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

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Further reading

Related articles

Latest news

See all jobs