CMA CGM P3 Network
The international shipping industry is excited about the recent news concerning ocean freight transportation between the US, Europe and the Far East. Last week, the largest shipping lines in the World announced the news. Maersk, MSC and CMA CGM have formed an anticipated new agreement called the P3 Network. This new CMA CGM P3 Network will dramatically change ocean freight shipping rates and services for international freight. In essence, these carriers have just combined services for the next ten years, in an operational alliance starting in the middle of the 2014.
The main service of the agreement includes 27 loops, making the most comprehensive network for East-West trade. These loops include ports throughout Asia, Europe, the Mediterranean, the US East Coast and US West Coast. The opportunities will provide more comprehensive global coverage for container shipping, more shipments and better transit times. For example, part of the services includes shipping from the US ports of Long Beach and Los Angeles to Far East ports of Shanghai and Ningbo. The agreement also provides shipping options from US East Coast ports like New York and Norfolk to major ports in Europe and Asia.
The CMA CGM P3 Network will improve freight transportation around the World, which in turn will have a positive impact on supply chains everywhere. Many freight forwarders will act as partners and will provide these new services to their clients. It should be noted that the start date of the launch of the P3 Network in 2014 depends on regulatory agencies in the US, Europe and Asia agreeing to the terms.
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