As the container shipping industry goes through “generational changes” US Federal Maritime Commission (FMC) chairman Mario Cordero says shippers will have to accept that “rates will rise at some point”.
The chairman of US regulator the Federal Maritime Commission (FMC) Mario Cordero says new alliances in container shipping will demand “aggressive oversight”.
The new Ocean Alliance will have largest capacity share on the east-west trades from Asia to Europe and Asia – North America according to Alphaliner.
The shake-out of container shipping alliances is becoming clearer as CMA CGM, Cosco Container Lines, Evergreen Line and Orient Overseas Container Lines (OOCL) sign a agreement to form the “Ocean Alliance”.
Container line alliances are here to stay and the next step is to move the cooperation to landside infrastructure to increase productivity and efficiency, said NYK Line ceo Jeremy Nixon at a recent industry conference.
Scale has become a much more significant factor than before and smaller carriers will be forced more into alliances to survive, said World Shipping Council chairman Ron Widdows.
The Competition Commission of Singapore (CCS) is calling for public feedback on the extension of a pact among shipping lines for another five years until 31 December 2020.