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Are Natural Gas Prices Set To Spike?

Are Natural Gas Prices Set To Spike?

Natural gas inventories have plunged…

World’s Three Largest Shipping Companies to Form Alliance

The three largest shipping container operators in the world have announced that they will form an alliance that will help them to reduce fuel consumption, and improve the levels of service and operations.

Vincent Clerc, of the Danish shipping giant A.P Moller-Maersk, said that the company will begin to work with its bitter rivals, MSC Mediterranean Shipping Company S.A., and CMA CGM of France, to form what will be known as the P3 alliance.

 The alliance will form an independently operated network that boasts 255 container ships which can transport a total 2.6 million Twenty Foot Equivalent Unit (TEU) containers all around the world; between Europe and Asia, as well as across the Pacific or Atlantic Oceans. The combined network of the three operators will enable them to offer more weekly departures to customers

Related article: New US Energy Secretary will Make a Decision on LNG Exports by December

Whilst the alliance will mean that the tree companies work closely together, almost acting as one organisation, Maersk has stated that the companies will at all times remain separate, with fully independent sales, marketing, and customer service departments.

Maersk Line released a statement to explain that “declining volume growth and over-capacity in recent years have underlined the need to improve operations and efficiency in the industry;” two of the things that the container operators hope to address via this alliance.

By. James Burgess of Oilprice.com


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