Kuala Lumpur: Breathing a secret sigh of relief following yesterday’s surprise news that the European mega container alliance, P3 Network has been canned, is likely to be management at Malaysia’s Westports.
Despite Westports repeatedly claiming the proposed routings of the P3 Network would not harm business, it was clear that a drop in traffic would have happened had Beijing not stepped in yesterday to can the tie up between Maersk, CMA CGM and MSC.
Singapore and the Port of Tanjung Pelepas would have served as hub ports for many of the loops at the expense of Westports in Port Klang.
The Chinese Ministry of Commerce (MOFCOM) yesterday announced that it has not approved the P3 Network. P3 was a long-term operational vessel sharing agreement proposed by MSC, CMA CGM and Maersk Line. MOFCOM’s decision follows a review under China's merger control rules. [18/06/14]
Beijing shoots down P3