The Federal Maritime Commission (FMC) has announced that a global operating partnership of three container shipping corporations will not take effect next week.
In October, HMM Co., Ltd. (HMM), Ocean Network Express Ptd. Ltd. (ONE), and Yang Ming Joint Service Agreement filed the Premier Alliance Agreement (FMC Agreement No. 201435) with the Commission.
An FMC official stated: “Agreements take effect 45 days after filing unless the Commission issues a Request for Additional Information (RFAI).
“The Commission employs the RFAI procedure to gather documents and verified information required to establish clarification on issues not addressed by the filing parties or where inadequate information was supplied in the initially filed agreement.”
The FMC has found that the Premier Alliance Agreement, as filed, lacks sufficient information to allow for a thorough examination of potential competition implications and whether the agreement conforms with all legislative requirements.
READ: FMC lists HMM as Controlled Carrier
The agreement allows the three parties to share vessels, charter or trade vessel space, debate and agree on the size, quantity, and operating features of vessels operated under the agreement, and engage in other global-scale operations.
Information sought as part of an RFAI is commercially sensitive and is not publicly published. Re-consideration of the agreement will not commence until the Commission has received a fully compliant response to its inquiry.
The Commission has 45 days from when it determines responses to the RFAI are deemed complete to review the agreement for competitive and legal concerns before it becomes effective.
The Premier Alliance Agreement would have gone into effect on 12 December 2024, absent this action by the Commission.
