Federal Maritime Commissioner Richard Lidinsky said the agency will soon stop the clock on its review of the proposed P3 Network.
Maersk Line, Mediterranean Shipping Co. and CMA CGM can take as long as they want to respond to FMC questions. Without such a pause, the FMC would have until mid-December — prior to its planned summit with Europe and China on Dec. 17 — to decide whether to allow the unprecedented vessel-sharing agreement to go through or ask a federal judge to block it.
The summit will address global regulatory issues relating to carrier alliances, VSAs and the impact of operation agreements on international trade, the FMC said. The P3 plan would consolidate the east-west strings of Maersk, MSC and CMA CGM into a single alliance encompassing 252 vessels. The alliance would represent roughly 42 percent of Asia-Europe capacity, 24 percent of trans-Pacific capacity and 40 to 42 percent on the trans-Atlantic, according to the FMC.