Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The Baltic Exchange, which had revenues of just $8.8 million last year, is more of a market-information service these days, generating indexes so members can work out fair cargo transport prices, according to Bloomberg's David Fickling and Andy Mukherjee.
The U.S. Federal Maritime Commission has received 17 ocean transportation intermediary license applications and changes for review.
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Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.
Maritime consultancy Drewry found that approximately 80 percent of shippers won’t shift any volume from ocean to air to avoid disruptions caused by the verified gross mass rule scheduled to go into effect July 1.
Peter Friedmann accused container lines of bungling the International Maritime Organization's new container weight verification requirement, and said some now realize they face high internal costs unless they offer a more flexible approach.