TSA Expansion Update: WTSA Suspended

MarineLink.com
Friday, May 10, 2013
Commissioner William P. Doyle (Photo: FMC)

The Westbound Transpacific Stabilization Agreement (WTSA) recently filed an amendment with the Federal Maritime Commission (FMC). The following statement regarding the WTSA amendment was issued today by Commissioner William P. Doyle of the FMC.

Commissioner said, "The member companies of the WTSA recently filed an amendment to the WTSA to suspend the underlying agreement. While it was effective when filed, the WTSA’s amendment remains subject to FMC jurisdiction. Accordingly, this agreement is effectively suspended as of May 1, 2013."

"As a point of information, in mid-April 2013, I voted to take no further action to delay the effective date of the Transpacific Stabilization Agreement (TSA) amendment to include the westbound trans-Pacific trade. This Commission vote was triggered when TSA filed an amendment seeking a 24-month trial period to expand the geographic scope of the TSA. The amendment expanding the TSA became effective April 14, 2013."

"As part of the package for expanding the TSA, all parties understood that the WTSA would have to be suspended. In its original form, TSA members did not have authority to discuss and reach an agreement on restricting capacity. Comparatively, the WTSA did permit its members to discuss and reach an agreement on restricting capacity. In contrast, once the TSA expansion became effective, the expanded TSA would not have the authority to discuss and reach an agreement on restricting capacity in either the inbound or outbound directions. TSA members can only exchange and discuss capacity information; they cannot discuss capacity rationalization. The filing of the WTSA amendment to suspend the agreement is the appropriate follow-up to formalize the agreement’s status."

“Going forward, the Commission will continue to monitor the expanded TSA."

www.fmc.gov

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Government Update

Hike in Service Tax at Indian Ports

The Indian Ministry of Finance has advised an increase in service tax and applicable at all ports. The effective date has not yet been announced. The rate

Manila Port Congestion Eased: Palace

MalacaƱang has declared that the congestion at the Port of Manila has been resolved, noting the various measures that the government and the private sector have implemented to address the problem.

Canadian Navy Delays Opening of Arctic Facility

Canada's military has again delayed the opening of a major new Arctic port, a sign the government is struggling to assert sovereignty over a remote resource-rich region.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3857 sec (3 req/sec)