The container lines were fined a total of 2.39 million Chinese yuan renminbi (U.S. $347,212) for failing to record or recording inaccurate data on their freight rates.
The French ocean carrier will buy space on a service between North Europe and the West Coast of North America, as well as on a service between Japan and California.
A spokesperson from Hyundai Merchant Marine (HMM) told American Shipper the loop is expected to commence April 2 from Laem Chabang, operating with seven, 6,800-TEU vessels supplied by HMM.
Registration takes less than 1 minute.
Federal Maritime Commission Chairman Mario Cordero says he is willing to discuss the agency's concerns with Port Authority of New York/New Jersey and OCEMA member carriers, leaving the door open for future approval of a revised agreement.
NYK, “K” Line and MOL each reviewed the past year and plans for the future, including the new joint venture between the three companies, which they plan to form in July.
The World Container Index has increased by 62 percent since the bankruptcy of Hanjin at the end of August 2016, London-based shipping research and consulting firm Drewry said.