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Alliance of top 3 shipping lines may start in mid-2014

Firms will pool 250 ships which will run on 3 trade routes

Cost-cutting move: The proposed tie-up is between Maersk Line, a unit of AP Moller-Maersk, Switzerland-based MSC Mediterranean Shipping Company and France's CMA CGM. - FILE PHOTO

[COPENHAGEN] An alliance of the world's top three container shipping firms which could control more than a third of the market is likely to start operating in mid-2014, No 1 player Maersk Line said after the tie-up was approved by US regulators.

The industry has been battling overcapacity...

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