The Federal Maritime Commission issued
a Press Release stating that the Commission has entered into a settlement agreement with the major ocean carrier agreements
and their members who serve the inbound waterborne U.S. trades with Asia
, including the Transpacific Stabilization Agreement (TSA) and two TSA-related bridging agreements. The settlement addresses carrier practices
and provides, among other things, for payment of $1,350,000 in lieu of a civil penalty and for the carriers to refrain from certain practices involving discussion and agreement on rates and negotiation of service contract terms particularly affecting non-vessel operating common carriers (NVOCCs).
Source: HK Law