Maersk and MSC shipping lines have signed an historic 10-year agreement to share vessels. The shipping lines have embarked on an agreement, similar to airline code sharing. This news comes after China rejected the P3 agreement with the two carriers and the French carrier CMA-CGM based on concerns of forming a monopoly. The partners are now calling it the 2M agreement.
Both European and US regulators had given the go ahead to the P3 alliance. However, the Chinese declined permission on the basis that an alliance between these three companies would form a monopoly, and have a negative impact on Chinese container shipping companies.
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