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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Government Update

Ban Welcomes Leonardo DiCaprio as UN Messenger of Peace

As the eyes of the world turn to New York City, where thousands of people are expected to gather today for a massive march in advance of a United Nations climate summit,

Tropical Storm Polo Threatens Battered Mexican Resort of Los Cabos

Tropical storm Polo barreled nearer on Friday to the Mexican Pacific resort of Los Cabos where thousands of troops were restoring order following widespread

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Simulators Winch
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: 0.1788 sec (6 req/sec)