Sebastian Vettel got off the a perfect start to the Australian Grand Prix with team mate Kimi Räikkönen picking up second place with in the first lap.
However this was to change due to a Red Flag caused by Fernando Alonso and Esteban Gutierrez coming together in dramatic style.
Ferrari's chose an "aggressive" strategy for the race but was heavily compromised by the Red Flag.
Vettel, on Super Softs, needed to make another stop for Softs, as Rosberg and Hamilton ploughed on with the more durable Mediums.
Vettel had a late chance to recover second from Hamilton, but ran wide at the penultimate corner and ultimately settled for third position.
"Obviously the start was mega, I was very happy; it reminded me of Hungary last year where I passed both of them also into Turn 1," said Vettel after the race.
"We settled into a rhythm nicely. It's much better at the front as you can control the race and pace.
"Obviously the red flag didn't help us but we had our chance.
"We didn't expect what both of them [Rosberg and Hamilton] did, going on the Medium tyre to the end of the race, so we tried to go more aggressive... maybe it didn't work.
"I'm still very happy with third. We tried everything; hopefully it works better next time."
Kimi Räikkönen was running second to team-mate Vettel early on but due to a fire in the airbox at his pit stop he was forced to retire.
"I don't know the issue, we lost some power... the engine was running, and we stopped," he commented, when asked about the circumstances surrounding his exit from the race.
"Apart from that the car was running well, the speed is there, but we have some work to do."
Ferrari now look towards Bahrain where they are confident they can mirror their performance and fight for another podium finish.
Source: GpUpdate, ESPNF1
Photo: Scuderia Ferrari