News / The 'cruel irony' of P3 cancellation could mean an increase in freight rate volatility

19/06/2014

Here’s an interesting angle on China’s rejection of the P3 network plans.

Hong Kong-based industry consultant, analyst and writer Charles De Trenck wrote in a LinkedIn blog: “I am not saying I don’t understand partially how such a “no” decision could have been made by China. ...

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Whilhelm
June 20, 2014 at 2:05 pm
The Chinese Government is interested in COSCO and CSCL only to the extent that they provide China the indigenous capability to import and export products. They are there to ensure the Japanese, Koreans or Europeans are not able to put a defacto tax on Chinese products by means of inflated freight rates. Higher freight rates result in a less competitive China. It’s true, the P3 would have led to higher Asia Europe rates which would have hurt Chinese manufacturing.

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