17 Juli 2014

[170714.EN.SEA] 2M Deal Applies Through China's Transport Ministry - not Commerce

MAERSK says it will file its 2M vessel sharing agreement with MSC with China's Ministry of Transport rather than the Ministry of Commerce (MOFCOM) that torpedoed its P3 plan it had with CMA CGM.

"This is a pure VSA, and VSAs of this type are only filed with the MOT; that is what we are seeing. That's where they get filed, not with MOFCOM," said Maersk spokesman Michael Christian Storgaard.

Mr Storgaard said the failed P3 Network went "beyond a boundary where it was prudent to get it with MOCOM", according to legal counsel, reported American Shipper.

He said Maersk believes the new 2M agreement with MSC will create an alliance with about a 30 per cent market share in the Asia-Europe trade. But Maersk would not reveal its estimated market share out of China.

But China Shippers' Association vice president Cai Jia-Xiang said the combined share of Maersk and MSC in the China-Europe trade lane would be higher than 30 per cent and would not be permitted.

The new vessel sharing agreement plans four weekly Asia-Med instead of five envisaged by the P3, which would have swallowed up 53.8 per cent of the market rather than of 42.1 per cent the 2M expects to have.

London's Drewry Maritime Research said 2M is plans four transpacific loops compared to the six planned by the P3, and three on the transatlantic as the P3 had envisioned.

Source : HKSG.

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