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P3 agreement clears Federal Maritime Commission regulatory review

( March 20, 2014, 21:24 GMT | Official Statement) -- MLex Summary: The Federal Maritime Commission said it will allow the proposed P3 Network Vessel Sharing Agreement, an alliance of Maersk, MSC and CMA CGM in the container-shipping industry, to go into effect Monday. The five-member agency's decision, from which Commissioner Richard Lidinsky dissented, is based on a determination that the agreement is not likely at this time to produce an unreasonable increase in transportation cost or an unreasonable reduction in transportation service. The FMC will require alternative reporting requirements from the companies to ensure the agency can continue to closely monitor the agreement.P3 Agreement Clears FMC Regulatory Review...

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