The Oct. 23 AS Daily article “FMC authorizes ocean carriers to serve on NYSHEX board” incorrectly stated that the U.S. Federal Maritime Commission has authorized ocean carriers CMA CGM, Hapag-Lloyd, MOL Line and COSCO Shipping to have managerial input in the operations of forward freight contract provider the New York Shipping Exchange (NYSHEX).
The request, which was filed with the FMC by NYSHEX on Oct. 18, will become effective after 45 days (Dec. 2), unless the commission seeks to enjoin it based on legal or competitive concerns, or requires further details about the arrangement from the filer.
Additionally, the article did not specify that at any given time, only two ocean carriers will serve on the NYSHEX board concurrently. The board, according to NYSHEX, will always maintain an equal number of shippers and carriers.
CORRECTION: FMC authorizes ocean carriers to serve on NYSHEX board
