FMC rejects claims it is using new container rule to regulate prices

WASHINGTON — The Federal Maritime Commission has rejected arguments that it is trying to regulate rates in issuing a new rule largely prohibiting ocean carriers from refusing to provide vessel space for their customers’ containers.

The final rule, which also addresses instances in which carriers unreasonably refuse to deal or negotiate contract provisions with their customers regarding container vessel space, was required under the Ocean Shipping Reform Act of 2022. It goes into effect Sept. 23.

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https://www.freightwaves.com/news/fmc-rejects-claims-it-is-using-new-container-rule-to-regulate-prices

Maersk had more cash than it knew what to do with — but not anymore

Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the company’s pandemic-era bonanza is well and truly over, it’s time to take a retrospective look at how Maersk invested its cash when profits were pouring in by...

https://www.freightwaves.com/news/maersk-had-more-cash-than-it-knew-what-to-do-with-but-not-anymore

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