Carrier lobby groups secure nod for merger
Tie-up of TSA and WTSA draws muted response from cargo owners and exporters
The Federal Maritime Commission in the United States has approved the merger of two container line lobby groups that together control most of the containerised cargo shipped between Asia and America.
Sources said a formal announcement would be made today in the US following a vote by FMC commissioners last week.
The move will allow the Transpacific Stabilisation Agreement to join forces with the Westbound Transpacific Stabilisation Agreement.
The 15 TSA members, which include Orient Overseas Container Line, Cosco Container Lines, China Shipping Container Lines and Maersk Line, control about 85 per cent of the freight transported from Asia to the US.
Members of the WTSA, which has seen membership drop to eight members from 10, including OOCL, Cosco and Evergreen Line, ship about 60 per cent of the freight from the US to Asia.
Cargo owners and exporters have given a muted response to the merger.
