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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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.
The Agriculture Transportation Coalition, an agricultural export group and vocal critic of the container weight regulation implementation process, said the verified gross mass submission guidelines issued by ocean carriers will impede export supply chains.