FMC endorses Ocean Three-Hanjin Shipping cooperation

The US Federal Maritime Commission (FMC) has approved of a vessel sharing and slot charter agreement between members of the Ocean Three Alliance and Hanjin Shipping.

“I am voting to take no further action on the Hanjin/UASC/CMA CGM/CSLC vessel sharing and slot charter agreement. This agreement is scheduled to become effective on 2 January 2015,” said William Doyle, commission of FMC.

The agreement covers container shipping trades between the UAE, Pakistan, India, Saudi Arabia, Egypt, France, Spain, Morocco and the US East Coast with up to 15 containerships of up to 9,500 TEU.

The US port rotation of New York, Norfolk and Savannah will not include Miami. Other new international ports added include Mundra and Livorno. Further, Tangier will replace Algeciras.

“At this time it appears that the Agree ment is not likely, through a reduction in competition, to result in an unreasonable increase in transportation service or an unreasonable increase in transportation costs,” Doyle commented.

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