FMC Approves OCEAN Alliance
The Federal Maritime Commission gave its approval to the OCEAN Alliance, which will go into effect Oct. 24, the agency said (here). The alliance includes COSCO Shipping, CMA CGM, Evergreen Marine, and Orient Overseas Container Line Limited. The members will…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
now be allowed "to share vessels; charter and exchange space on each other’s ships; and, enter into cooperative working arrangements in international trade lanes between the United States and ports in Asia, Northern Europe, the Mediterranean, the Middle East, Canada, Central America, and the Caribbean," the FMC said. "The Commission worked very hard to balance the needs of not only the OCEAN Alliance applicants, but all other parties involved in the intermodal supply chain, with the ultimate goal of safeguarding competition in international oceanborne common carriage, with the American shipping public foremost in mind," FMC Chairman Mario Cordero said. "The Agreement going into force represents a consensus of what will allow OCEAN Alliance carriers to achieve efficiencies without harming the marketplace."