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US FMC approves expanded G6 Alliance agreement

US FMC approves expanded G6 Alliance agreement
The US Federal Maritime Commission has approved the expanded G6 Alliance.

The FMC unanimously approved the amended G6 Alliance agreement to extend their co-operation to all major east-west trades including those between Asia and the west coast of the US, as well as Europe-US east coast trades.

The commission said that the amended alliance agreement was not likely at this time to reduce competition or produce unreasonable increases in transport costs.

"The Commission’s action on the G6 Alliance is based on an extensive, competitive analysis conducted by the commission’s staff and comments received by shippers and other industry participants,” said FMC chairman, Mario Codero.

“The commission will continue to review the competitive impact of global alliances. This Alliance will considerably increase available capacity in the expanded geographic scope, and has the potential to generate operational efficiencies and positive environmental benefits."

Last month the FMC approved the P3 alliance, however, it will be subject to additional reporting requirements.