The U.S. Federal Maritime Commission said its members voted not to block the P3 Network that Maersk, Mediterranean Shipping Co., and CMA CGM plan to start later this year.
The three largest container carriers will operate the vessel-sharing agreement in the transpacific, transatlantic and Asia-Europe trades.
The FMC said it conducted an extensive review of the proposed P3 trades between the United States and Asia, North Europe, and the Mediterranean.
Commissioner Richard Lidinsky Jr. cast the only dissenting vote among the five-member commission.
The agency said its decision was based on a determination that the P3 is not likely at this time, by a reduction in competition, to produce an unreasonable increase in transportation cost or an unreasonable reduction in transportation service under section 6(g) of the Shipping Act…
NEWSFLASH: FMC allows P3 Network to move forward
