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ARTICLE · 25 JUNE 2014

China Blocks Global Shipping Alliance

Jones Day
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China’s Ministry of Commerce announced on 17 June 2014 that it had prohibited the P3 Alliance between three large shipping companies.

ChinaAntitrust/Competition Law
Peter Wang
Peter Wang
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China's Ministry of Commerce ("MOFCOM") announced on 17 June 2014 that it had prohibited the P3 Alliance between three large shipping companies.  This is only the second time in 5 years that MOFCOM  has blocked a transaction under China's Anti-Monopoly Law ("AML"). 

This decision shows once more that MOFCOM does not hesitate to flex its muscles in global transactions, especially when the interests of Chinese companies – even competitors – are at stake.

The P3 Alliance

Three of the leading worldwide shipping companies, Moller-Maersk, CMA CGM and MSC Mediterranean, entered into a cooperative agreement, the P3 Alliance.  The purpose of the Alliance was to share the capacity of the three shipping companies on Asia-Europe, Trans-Pacific and Trans-Atlantic shipping lanes.  They would create a joint vessel operation center to coordinate the fleets of the alliance members.  Importantly, the parties had structured the transaction to ensure that each of them would

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