FMC Mandates New Rules for Ocean Carriers on Export Policies and Loading Times
New regulations were announced last Monday by the U.S. Federal Maritime Commission (FMC), where ocean carriers must document their policies for managing exports, inform shippers about any schedule or service changes, and provide sufficient loading time for ships. These measures aim to create a more equitable environment for exporters and liner operators, per the JOC.
The biggest change in the new regulations is ocean carriers will be required to submit a “documented export policy” to the FMC every year. This includes details on pricing strategies, services, routes, and equipment available for U.S. exports. This will serve as a basis for assessing whether an ocean carrier has unreasonably prevented an exporter’s container from sailing.
U.S. Import Volume Analysis for June 2024
In June 2024, U.S. container import volumes dropped by 2.1% from May, totaling 2,297,979 TEUs. In contrast, the TEU import volume increased by 10.4% compared to June 2023, showcasing impressive year-over-year growth.
According to data from Descartes, at some of the major U.S. ports, the ports of Los Angeles (+33,253 TEUs) and Charleston (+59,933 TEUs) saw the greatest container volume increase from May. However, on the East Coast at the ports of New York/New Jersey (-59,933 TEUs) and the port of Norfolk (-28,738 TEUs) saw the greatest declines from May.