U.S. regulatory body passed a proposal for an alliance by the world's largest shipping company . The Fellowship of the container industry has the potential to shake up the world in a way to cut costs for large operators , thus pinning a small company .
Proposals P3 Alliance of Maersk Line owned A.P. Moeller - Maersk of Denmark , CMA - GSM from France , and the Swiss Mediterranean Shipping - three companies with the largest carrying capacity world - get approval from the U.S. Federal Water Commission on Thursday . The European and Chinese regulators still must give their approval . However , a review of the U.S. regulators considered as the biggest stumbling block . According to the alliance, joint operations will start running this year .
If the proposal is approved , industry executives estimate the three companies will control up to 40% of the total container cargo from Asia to Europe across the Pacific and the Atlantic . All three agreed to deploy 255 ships with a capacity of 2.6 million containers .
The alliance will allow the three companies reached trimming costs by utilizing the port facilities and vessels belonging to one another . They also take advantage of the geographical strengths of each company to cut costs and speed up delivery .
Macquarie Research analyst projected that Maersk Line is expected to cut the cost of $ 1 billion per year in Asian trade route to Europe , thanks to the efficiency of the new network .
Such alliances are not new . But shipping companies , cargo , and fuel suppliers have less pressing regulators to reject the alliance proposal . They worry that rates will be increasingly tough negotiations .
" P3 is almost like monopoly practices , " said John Lu , president of the Asian Shippers Forum , representing the owner of the cargo and shipping and receiving goods company , Asia's biggest . "Concentration of such capacity can not continue. "
The Commission has set a U.S. waters claimed that the alliance seems " at this point will not make shipping rates rise due to a reduction in competition is not fair . The decrease in transportation services would not be fair not happen . "
Kontrainer shipping industry plagued by overcapacity problems after booking a new record in 2007 , just before the financial crisis to disturb the world trade . Shipping rates in Asia and Europe fell by almost 50 % since the beginning of the year . However , high fuel prices increase the demand for new ship designs and greater efficiency. Thus , in a market that has been saturated , the number of vessels continues to increase .WSJ
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