FMC DELAYS START OF NORTH ATLANTIC AGREEMENT
The U.S. Federal Maritime Commission says it wants more information before
it allows the new North Atlantic Agreement to take effect.
The 20-carrier NAA, successor to the Trans-Atlantic Conference
Agreement, was scheduled to take effect Monday.
The FMC, however, said it wants additional information to on how the new
carrier group will affect the transatlantic trade. After the information is
filed, the FMC will have 45 days to review it.
Carriers say the NAA’s main purpose will be to allow them to discuss
capacity issues. Shippers see it as a way for carriers to jack up rates.
The FMC is weighing a request from shippers for more information on the
Transpacific Stabilization Agreement, one of several discussion agreements
that have gained prominence as rate-setting carrier conferences have
declined or gone out of business.