US regulator approves Ocean Three alliance
The Federal Maritime Commission (FMC) has approved the Ocean Three (O3) shipping alliance; however, one of the FMC’s five commissioners, Richard Lidinsky, has criticised the decision to approve without a 45-day consideration period.
The alliance consists of French-based shipping company CMA CGM, Saudi-based United Arab Shipping Company (UASC) and China Shipping Container Lines (CSCL).
Lidinsky said he was shocked that the Commission’s staff did not tell the commissioners that this would happen in advance and said he would ask FMC chairman Mario Cordero for a full, internal investigation and the publication of its results.
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