Chinese regulators are poised to give the green light to a giant shipping alliance between the world’s three biggest container operators this month, according to people familiar with the matter, a move that would allow the alliance to start operating as early as the Fall.
Earlier Wednesday, European regulators said they wouldn’t raise antitrust issues with the deal, leaving Chinese approval as the only remaining, major regulatory hurdle. U.S. regulators said they wouldn’t object to the tie-up a few months ago.
A spokesman for European Competition Commissioner Joaquín Almunia said the watchdog wouldn’t open antitrust proceedings against the so-called P3 alliance, a tie-up proposed by Denmark’s A.P. Moeller Maersk’s Maersk Line, France’s CMA CGM and Swiss-based Mediterranean Shipping Co. The three companies have agreed to share ships, routes and logistics in a deal that would concentrate their control over some of the world’s busiest trade routes. The trio are already the world’s three largest container shippers by capacity.
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Costas Paris, The Wall Street Journal via CHINA US Focus http://ift.tt/1kL4jpz
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