2 shipping alliances involving Maersk, NYK get nod

[BRUSSELS] European Union antitrust regulators have approved an alliance planned by world No 1 container shipping company AP Moller-Maersk and another that includes Japan's largest shipping firm Nippon Yusen Kaisha (NYK) aimed at tackling excess capacity.

Maersk unveiled the proposed tie-up with Switzerland-based MSC Mediterranean Shipping Company and France's CMA CGM, called the P3, in March.

The companies agreed to pool about 250 ships which will operate on three trade routes, Asia-Europe, trans-Pacific and trans-Atlantic in order to cut costs.