The proposed P3 shipping alliance could be falling apart after Chinese authorities unexpectedly rejected the partnership between three of the world’s largest shipping containers, according to reports.
China’s Ministry of Commerce defied expectations and disapproved of the partnership that involves the Mediterranean Shipping Company from Switzerland, CMA CGM from France, and Denmark’s Moller-Maersk.
Moller-Maersk announced Tuesday that it has now abandoned the P3 alliance plans due to China’s decision. The news was met with a blow to Moller-Maersk shares.
The joint venture, first announced last year, had already received approval by the US Federal Maritime Commission; the European Commission decided earlier this month not to open an antitrust probe into the matter.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI