ANNOUNCEMENT
A.P. Møller - Mærsk A/S – Establishment of liner alliance
A.P. Møller - Mærsk A/S (Maersk Line), MSC Mediterranean Shipping Company S.A. and CMA CGM S.A. (jointly the “Partners”) have agreed in principle to establish an alliance named the P3 Network.
The scope of the P3 Network is the Partner’s fleet capacity deployed on the Asia-Europe, the Transpacific and the Transatlantic trades.
The Partners will commit all vessels deployed on the 3 trades into a joint vessel operating center (JVOC) that will operate the combined fleet independently. The Partners will continue to have fully independent sales, customer service and marketing functions. Vessels committed to the P3 Network will continue to be owned/chartered and funded by the Partners.
The JVOC will operate an expected capacity of around 2.6m TEU of which Maersk Line is expected to contribute with around 42%. Maersk Line’s 20 triple E-vessels are planned to be operated by the P3 Network.
The P3 Network is expected to provide customers with an improved service offering in terms of a better coverage, improved frequency and higher network stability. P3 will create value by allowing Partners to operate with larger vessels while improving utilization. This will lead to significant environmental benefits from reduced bunker consumption.
The establishment of the P3 Network will be subject to approval by relevant regulatory authorities and agreement by the Partners on definitive contracts. The P3 Network is expected to start operations during 2nd quarter of 2014.
Copenhagen, 18 June 2013.
Contact person: Maersk Line CEO Søren Skou, phone +45 3363 1912.
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