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Federal Maritime Commission
Washington, D.C.
NR 09-03
TSA CAPACITY AMENDMENT
WITHDRAWN FROM FMC CONSIDERATION
CONTACT: Florence A. Carr, Director, Bureau of Trade Analysis (202) 523-5796
FOR RELEASE – February 11, 2009
On February 10, 2009, the Federal Maritime Commission ("Commission") received notice that the Transpacific Stabilization Agreement ("TSA") had decided to withdraw a proposed agreement amendment. TSA, a 14 - member carrier agreement with substantial market share in the Asia/US trades, had contemplated developing a coordinated capacity rationalization program under the proposed Amendment No. 43, in addition to its existing rate discussion authority.
The Commission had requested that TSA and its member lines provide additional information, pursuant to 46 U.S.C. § 40304(d), that would assist the agency in reviewing the proposed Amendment under section 6(g) of the Shipping Act. While acknowledging overcapacity challenges arising from a global decline in liner cargo volumes, the Commission has a statutory responsibility to evaluate the potential economic and anticompetitive impacts of all proposed agreements.
Many organizations and companies filed comments, both in opposition or in support of TSA's proposed Amendment. The Commission continues to encourage the active participation of all stakeholders that might be affected by its regulatory decisions.
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