FMC vote delays P3 vessel sharing plan

DECEMBER 6, 2013 — The Federal Maritime Commission (FMC) voted yesterday to approve a request for additional information from the parties to the proposed P3 Network Vessel Sharing Agreement, FMC Agreement No. 012230. Yesterday's request for additional information delays the effectiveness of the proposed agreement. After the parties have submitted the requested information and documents, a new 45-day regulatory review period will begin.

The proposed agreement would authorize the parties — container giants CMA CGM, Maersk Line and MSC — to share vessels and engage in related cooperative operating activities in the trades between the U.S. and Asia, North Europe, and the Mediterranean.

The three have similar plans for the Europe-Asia trades. Although those are not subject to its approval,  the FMC is hosting a global regulatory summit December 17 to address concerns raised by increased networking among ocean common carriers. The FMC has confirmed the attendance at the summit of international regulators from the People's Republic of China and the European Union.

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