Federal regulators are understood to be stepping up scrutiny of ocean carriers, requiring them to submit more comprehensive pricing and capacity data to prevent anti-competitive rates and services.
The three global carrier alliances that dominate sea freight service (2M, Ocean and THE) and 10 participating member companies must now begin providing “consistent data for assessing ocean carrier behavior and markets,” the Federal Maritime Commission announced Thursday.
The new information will give FMC’s Bureau of Trade Analysis (BTA) insight into pricing for individual trade lanes by container and service type.
“These changes are the result of a year-long review by the BTA to properly analyse the data needed for operator behaviour and market trends,” the FMC said.
Under the new requirements, participating alliance operators will be required to submit pricing information about the cargo they transport on major trade lanes, and both carriers and alliances will be required to submit aggregate information related to capacity management.
The BTA is responsible for continuous monitoring of carriers and their alliances for compliance with shipping regulations and whether they have an anti-competitive impact on the market.
The FMC noted that the coalition is already subject to “the most frequent and stringent monitoring requirements of any type of agreement” submitted by the agency, including detailed operational data, minutes of coalition member meetings and concerns by FMC staff during meetings with coalition members.
“The Commission will continue to evaluate its reporting requirements and adjust the information it requests from ocean carriers and alliances as circumstances and business practices change. Additional changes to requirements will be issued as needed,” the agency said.
“The biggest challenge is not getting ocean carriers and sea freight service to move and handle more cargo, but how to address and address more severe constraints on supply chain capacity from U.S. domestic networks and infrastructure. Intermodal equipment, warehouse space, intermodal Availability of train services, trucking and sufficient workers in each sector remain challenges to move more cargo from our ports and reach their destinations with greater certainty and reliability.”
Post time: May-07-2022
