As of May, regulations that require steamship lines to disclose the terms of their contracts with import/export customers are history, thanks to the Ocean Shipping Reform Act. The change may seem subtle, but it’s expected to have a big impact on the industry. Small shippers, who used to compete by matching the deals offered by their larger competitors, no longer have access to that information; and many small exporters and importers, who use the information to demand that shippers treat them no differently from their larger competitors, may experience increases in prices.
The upshot: A flurry of mergers and alliances as shipping lines, importers/exporters and industry intermediaries try to become big enough to compete. And increased competition should force down prices in the short term.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]