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Ocean Carriers News

12 Feb 2024

Foremost Group CEO Angela Chao Killed in Car Accident

Angela Chao (Photo: Foremost Group)

Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.Before joining Foremost Group in 1996, Angela Chao worked in the mergers and acquisitions department of Smith Barney…

11 Feb 2024

FMC Mulls Investigation into Suez and Panama Canal Impacts

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The US Federal Maritime Commission (FMC) held an informal public hearing examining impacts from attacks on merchant shipping in the Red Sea and Gulf of Aden on February 7.Opening the hearing, Commissioner Carl Bentzel, voiced concern about safe access through both the Suez and Panama Canals.“What is at stake is severe international economic disruption. The United States is still recovering from the aftershock of the pandemic induced supply chain disruption that that saw 30% increases…

26 Jan 2024

Congressmen Urge FMC to Finalize OSRA Provisions

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Two U.S. Congressmen are urging the Federal Maritime Commission (FMC) to finalize the rule on demurrage and detention billing requirements required in their Ocean Shipping Reform Act that became law in 2022.The Ocean Shipping Reform Act was signed into law on June 16, 2022 and provides authority to the FMC to investigate ocean carriers’ business practices and apply enforcement measures following the unreasonable refusal of American exports throughout the COVID-19 pandemic.In January 2023, U.S.

07 Jan 2024

War, Weather Put Ocean Shippers on Notice for Rough Seas in 2024

© Daniel / Adobe Stock

Recent hostilities in the Red Sea have thrown global shippers of vital goods for a loop - but it is hardly the only issue that big carriers are facing as 2024 kicks off.Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal. Complex vessel schedules are likely to be knocked out of sync for giant container ships, fuel tankers and other commodity haulers throughout the year.That will increase delays and raise costs for retailers like Walmart…

13 Dec 2023

Star Bulk and Eagle Bulk Agree to $2.1 Billion Merger

© Ivan / Adobe Stock

Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.Eagle shareholders will receive 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned.

05 Jun 2023

US West Coast Port Labor Unrest Continues Amid Pay Quarrel

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The largest terminal at Southern California's Port of Long Beach closed on Monday as dockworkers who have been working without a contract since July rally for better pay.The Port of Long Beach is the second-busiest U.S. container terminal and a key trade gateway. Monday's closures followed similar disruptions on Friday in Oakland, California.Total Terminals International LLC (TTI) in a notice to customers said all appointments were canceled for the first gate shift. Mediterranean Shipping Company SA (MSC)…

22 May 2023

Time to Meet the US Mariner Shortage Head On

(Photo: Alpha Hernandez / U.S. Marine Corps)

We have a national and economic security crisis on our hands. It is time for Washington policymakers to stop dancing around the facts and looking for small fixes. The U.S. mariner shortage is real and it poses an unescapable threat not only to our ability to establish lines of communication to the U.S. warfighter, but also to our nation’s ability to project power through international trade.Two Congressional hearings held on March 28 illustrate the challenge. First, General Van Ovost…

22 Mar 2023

Port of Montreal Measuring Vessels' Carbon Footprint

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The Montreal Port Authority (MPA) and Global Spatial Technology Solutions (GSTS), a company that specializes in applying artificial intelligence (AI) to shipping, announced the launch of a new project to measure and reduce the carbon footprint of vessels using the Canadian port.Based on the OCIANATM modular platform, the project provides real-time data on the route, speed and position of vessels heading to Montreal. These data are then analyzed to obtain an accurate estimate of a vessel’s arrival time and adjust its route to coordinate with the availability of berths in the Port of Montreal.

15 Dec 2022

US Probing Shipping Lines’ Anti-retaliation Compliance

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The United States' Federal Maritime Commission said it is asking the top 20 shipping lines calling the U.S. to provide information on how they are complying with the new prohibitions on retaliation established by the Ocean Shipping Reform Act of 2022 (OSRA).The added protections against retaliation were created by Section 5 of OSRA and became effective immediately upon the law’s enactment in June. The prohibitions apply to common carriers, marine terminal operators (MTO), and…

13 Sep 2022

NVOCCs Caught in the Middle of Ocean Shipping Reform Act

NVOCCs are caught in the middle of the Ocean Shipping Reform Act of 2022 requirements for reporting demurrage and detention; FMC needs to pump the brakes and allow the industry to catch upThe Ocean Shipping Reform Act of 2022, passed by Congress without industry input and signed into law on June 16, has left the industry in a difficult position regarding how to comply with the new requirements for invoicing demurrage and detention (D&D) charges.At issue is the Container Availability Date…

13 Sep 2022

Vogel Promoted to Shareholder at Cozen O’Connor

Jeff Vogel (Photo: Cozen O’Connor)

Law firm Cozen O’Connor announced it has promoted 11 members to shareholder including Marine News contributor Jeff Vogel.Vogel focuses his practice on strategic and operational matters affecting the U.S. maritime industry and on government contracts across all industries. In the maritime space, he represents ocean carriers and maritime stakeholders in regulatory and financial matters before government regulatory bodies. In his government contracts practice, he represents clients in the aviation…

10 Aug 2022

US Works with Firms in Supply Chains to Ease Port Congestion

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The U.S. Transportation Department (USDOT) said on Wednesday a supply chain pilot data-sharing project aimed at easing bottlenecks at congested U.S. ports has begun exchanging data and doubled in size.USDOT announced the planned project in March with truckers, shippers, wholesalers, retailers and ports "to develop a digital tool that gives companies information on the condition of a node or region in the supply chain."The effort known as the Freight Logistics Optimization Works (FLOW) program included 18 initial participants including FedEx…

18 Jul 2022

U.S. Ports Have Highest Demurrage and Detention Charges in the World, Report Shows

Credit:  STOCKSTUDIO/AdobeStock

Container xChange's latest annual benchmark study of demurrage and detention charges recently showed that the ports in the U.S have the highest demurrage and detention (D&D) charges among the top 60 ports worldwide. Demurrage and detention tariffs have two main purposes: (1) compensating the shipping line for the use of its container and (2) encouraging the merchant to return the container as soon as possible for the shipping line to re-use it and have a fast turnaround. Demurrage is the charge that one pays for the use of the container within the terminal beyond the free time period.

17 Jun 2022

Ocean Shipping Reform Act of 2022: Long Term Fixes, But What’s in It for the Short Term?

© Sandra / Adobe Stock

The Ocean Shipping Reform Act of 2022 (the Act) was signed by President Biden on Thursday, June 16, 2022. The long term fixes, which require Federal Maritime Commission rule-making, establishes additional requirements requiring the FMC to issue rules related to certain fee assessments, prohibited practices, and establishment of a shipping registry, and prohibited conduct for ocean carriers. It further authorizes the FMC under certain circumstances to issue an emergency order requiring common carriers to share information directly with shippers and rail and motor carriers.

17 Jun 2022

Biden Signs Ocean Shipping Reform Act Into Law

President Biden at the Port of Los Angeles on June 10, 2022. (Photo: @POTUS / Twitter)

President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs.The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week. Biden said he had "promised to crack down on ocean carriers whose price hikes have hurt American families."The new law boosts the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping…

14 Jun 2022

US House Passes Ocean Shipping Reform Act

© angeldibilio / Adobe Stock

The U.S. House of Representatives approved legislation Monday to improve oversight of ocean shipping, which supporters say will help curb inflation and ease export backlogs. The bill was approved 369-42 and will head to the White House for President Joe Biden's signature. Biden said in a statement he looked forward to signing it into law.The bill would boost the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping, and…

09 Jun 2022

Biden Urges Congress to 'Crack Down' on Shipping

(Official White House Photo by Adam Schultz)

U.S. President Joe Biden on Thursday urged Congress to “crack down” on ocean carriers that have raised shipping prices significantly and helped drive up the cost of goods in the country.“One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%,” Biden said in Twitter post. “It’s outrageous—and I’m calling on Congress to crack down on them.”“We’ve got to change this. I asked the Congress to pass a piece of legislation to remedy this. Democrats and Republicans voted for it.

09 Jun 2022

FMC Approves $2 Million Settlement Agreement with Hapag-Lloyd

Copyright olrat/AdobeStock

The Federal Maritime Commission approved a settlement agreement reached between its Bureau of Enforcement (BoE) and Hapag-Lloyd AG (Hapag-Lloyd) where the ocean carrier will pay a $2 million civil penalty to address alleged violations related to their detention and demurrage practices.“To restore full confidence in our ocean freight system, vigorous enforcement of FMC rules is necessary. Specifically, we must ensure powerful ocean carriers obey the Shipping Act when dealing with American importers and exporters.

09 Jun 2022

FMC Reveals Plans to Aid Shippers and Improve Supply Chains

© frimufilms / Adobe Stock

The U.S. Federal Maritime Commission (FMC) said it is establishing three new initiatives that will provide enhanced assistance to shippers, continue to improve legal and regulatory compliance of regulated entities, and focus on remedies to supply chain problems.At the direction of Chairman Daniel Maffei, the Commission will establish a new and permanent International Ocean Shipping Supply Chain Program, re-establish the Export Rapid Response Team, and take the steps necessary for carriers…

02 May 2022

Suggestions for Making America’s Marine Highway Program More Effective

© Ed Metz / Adobe Stock

The America’s Marine Highways Program is one of several grant programs administered by the U.S. Maritime Administration (MARAD) to promote more effective use of the nation’s navigable waterways. This particular program was established by Congress in 2007 to provide grants for projects that would promote water-borne alternatives to available landside transportation services, especially for freight carried by trucks.Consistent with this specific goal, the program’s statutory authority…

31 Oct 2022

Maritime Antitrust Immunity in Crosshairs

© Brad Nixon / Adobe Stock

While those in the Beltway continue to struggle to offer solutions to U.S. supply chain capacity issues, it seems apparent that policymakers have at least found their scapegoat for these issues in the form of the maritime industry. A specific talking point during the State of Union Address, a White House-endorsed agreement between the Federal Maritime Commission (FMC) and Department of Justice (DOJ), multiple pieces of legislation, and a vigorous hearing before the Senate Committee on Commerce…

01 Apr 2022

US Senate Approves Bill to Ease Export Shipping Backlogs

© jdoms / Adobe Stock

The U.S. Senate on Thursday unanimously passed a bill to improve oversight of ocean shipping, a step supporters say will help ease export backlogs.The Ocean Shipping Reform Act, led by Senators John Thune and Amy Klobuchar, would strengthen the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping, and boost transparency of industry practices.Senate Majority Leader Chuck Schumer said the legislation "will reduce costs for the American people…

15 Mar 2022

White House Aims to Boost Supply Chain Information Sharing

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The White House on Tuesday unveiled a new pilot effort to help clear supply chain bottlenecks at congested U.S. ports by getting truckers, shippers, wholesalers, retailers and other businesses to share information.U.S. Transportation Secretary Pete Buttigieg and National Economic Council Director Brian Deese launched the Freight Logistics Optimization Works (FLOW), an information sharing initiative "to pilot key freight information exchange between parts of the goods movement…

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