FMC Allows Premier Alliance Vessel-Sharing Deal to Take Effect
A new vessel sharing agreement between Japanese carrier Ocean Network Express, South Korea-based Hyundai Merchant Marine and Taiwan-based Yang Ming Marine Transportation (see 2411070005) will take effect Feb. 9, the Federal Maritime Commission said Feb. 6 after completing its review. The commission said it carried out an “economic analysis of the competitive effects of the” arrangement, called the Premier Alliance Agreement, adding that all agreements “are subject to the strictest standards for ongoing monitoring by the Commission.”
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Under the agreement, the carriers will share vessels and vessel space in trade between the U.S. and Asia, the Middle East and Europe. The FMC urged shippers and other businesses to report any suspected violations of the Shipping Act or other FMC regulations by any company participating in an alliance agreement. Those reports should be sent to the commission’s Bureau of Enforcement, Investigations and Compliance at BEIC@FMC.gov.