A PYMNTS Company

Asia/US: Controllers of trans-continental shipping containers get merger approval

By  |  April 15, 2013

Two container line lobby groups that, combined, dominate cargo shipped in containers between Asia and the US have been approved by authorities in the US to merge. The Federal Maritime Commission green-lit the deal that merges the Transpacific Stabilisation Agreement with the Westbound Transpacific Stabilisation Agreement. Together, the two have 23 members and control the majority of transported freight; TSA controls about 85 of the shipment from Asia to the US, while the WTSA controls about 60 percent of the shipment from the US to Asia. They were not met with major resistance from cargo owners and exporters despite past complaints of monopolistic-behavior from the groups.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: SCMP

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.