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US: Smooth seas greet controversial shipping alliance

By  |  February 12, 2014

A controversial alliance between three of the world’s largest shipping operators, to be named the P3 shipping alliance, has seen smooth sailing in efforts to earn regulatory clearance for the venture, with US authorities being the latest to be expected to clear the deal.

Reports say the US Federal Maritime Commission is set to approve of the alliance, which forges a partnership between Denmark-based Maersk, France-based CMA CGM, and Switzerland-based Mediterranean Shipping.

US regulators, however, are likely to place concessions on the deal, sources say, to ensure fair competition for smaller rivals on some of the most popular routes.

The companies will need clearance from EU and Chinese regulators as well; earlier reports suggested China’s ministry of transport may take longer to review the deal.

Full Content: Wall Street Journal

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