Home » Breaking News, Maritime » FMC sets date for P3 regulatory summit with EU, China
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The Federal Maritime Commission (FMC), the US shipping regulatory body, announced it will hold a global summit on December 17, 2013, with regulators from China and the European Union to assess the impact of the proposed P3 global alliance on the maritime industry.

In an official statement, the FMC said the summit, to take place in Washington, DC, will discuss global regulatory issues including carrier alliances, vessel sharing agreements, and the impact of operational agreements on international trade.

“We welcome the exchange of views with our regulatory counterparts,” said FMC Chairman Mario Cordero. “The shipping industry is dynamic as evidenced by the changing nature of agreements. The effects of these trends will have global implications that demand an international understanding of our changing industry.”

The FMC in October this year issued an invitation to China and EU regulators to meet and discuss the proposed cooperation by the world’s three largest container shipping companies—Maersk Line, CMA CGM, and Mediterranean Shipping Co.

The planned collaboration has raised apprehensions among shippers and other box lines for its possible adverse effects on fair competition in the shipping industry.

The three carriers announced they would begin cooperating in 2014 on routes covering Asia to Europe as well as trans-Pacific and trans-Atlantic routes to the United States.

 

Photo: RCB

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