In a June 4, 2014 article, Journal of Commerce quoted Venable partner Ashley Craig on plans by the CKYH partners (Cosco, “K” Line, Yang Ming and Hanjin) and Evergreen Line to form a vessel-sharing alliance in the trans-Pacific and trans-Atlantic trade lanes.
Craig said that by asking the U.S. Federal Maritime Commission to let them discuss operating in the two major trade lanes, the carriers can still prepare a VSA while gauging how competitors’ alliances and the larger market play out. He expects the FMC to allow them to discuss market developments and voluntary guidelines for non-binding rates before choosing whether to seek a VSA in three to four months.
“The carriers want to first conduct preliminary analysis,” Craig said.
Craig said that by asking the U.S. Federal Maritime Commission to let them discuss operating in the two major trade lanes, the carriers can still prepare a VSA while gauging how competitors’ alliances and the larger market play out. He expects the FMC to allow them to discuss market developments and voluntary guidelines for non-binding rates before choosing whether to seek a VSA in three to four months.
“The carriers want to first conduct preliminary analysis,” Craig said.