On June 17, 2014, China's Ministry of Commerce (MOFCOM),
China's competition regulator, prohibited the proposed "P3
Alliance" that would have combined the world's three
largest container carriers—Maersk Line, Mediterranean
Shipping Company and CMA CGM—on certain shipping routes.
MOFCOM prohibited the deal despite the U.S. Federal Maritime
Commission (FMC) clearing the transaction in March 2014, and the
European Commission (Commission) announcing its decision not to
open an investigation just two weeks prior to the MOFCOM
prohibition. The differing outcomes resulted from each authority
analyzing only the effects of the deal relating to
its respective market. The FMC did not analyze Asia-Europe
routes since it has no jurisdiction over it and, conversely, MOFCOM
did not analyze Europe-North America routes. Moreover, while the
FMC and Commission assessed the deal under their respective
competition rules applicable to cooperative agreements between
independent
