Maersk, MSC strike new vessel sharing deal

[COPENHAGEN] The world's top two container carriers, Maersk Line and MSC Mediterranean Shipping Co, have struck a fresh vessel-sharing agreement after a previous three-way pooling deal known as P3 was undone by China's failure to approve it.

Maersk and MSC say that sharing vessels cuts costs, fuel usage and emissions. But critics, including those sending cargo, fear the carriers could dominate key trade routes carrying consumer goods around the world.

Analysts said that the carriers had a better chance of gaining Chinese approval with the latest deal because it involves fewer ships and volumes of goods and is structured differently.