The U.S. Federal Maritime Commission (FMC) announced that it has concluded its review of the proposed “THE Alliance” agreement, allowing it to become effective on December 19, 2016.
THE Alliance is comprised of five different container shipping companies: Hapag-Lloyd; K Line; MOL; NYK; and Yang Ming.
The Commission voted to allow the agreement to become effective following a period of substantive and constructive discussion with the parties.
Attorneys acting on behalf of THE Alliance submitted the application to establish the agreement on November 4, 2016. The Commission made no Request for Additional Information, clearing the way for the agreement to come into force within the initial 45-day review period.
Under the terms of the agreement, THE Alliance members are permitted to share vessels, charter and exchange space on each other’s ships, and enter into cooperative working arrangements.
The scope of this agreement applies only to trade lanes between the United States and other nations.< Return