CMA CGM, Maersk Line and MSC Mediterranean Shipping Co. SA will operate a combined capacity of 2.6m twenty-foot equivalent units (TEUs) on three trade lanes: Asia-Europe, Trans-Pacific and Trans-Atlantic. Initially, they will deploy 255 vessels on 29 service loops. Maersk Line will contribute 42 percent of capacity, while MSC will provide 34 percent, and CMA CGM 24 percent. The vessels will be operated independently by a joint operating center. However, they will continue to be owned or chartered by their respective lines, which will maintain independent sales, marketing and customer-service functions. The P3 Network will offer more weekly sailings and direct ports of call than do the individual lines, according to the participants. They said the new network is expected to reduce disruptions for customers caused by canceled sailings. The partnership plans to commence operations in the second quarter of 2014, although the start date is subject to approval by regulatory authorities, as well as agreement among participants on definitive contracts. Finalization and signing of the contracts is planned for the fourth quarter of this year, the carriers said.

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