Topic of the Week (1/26/24):
Let's take a look at the great alliance reshuffle...
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UPDATE: FMC's Agreements Library is back up! Here is the exit language from THE Alliance as of the 11/21/2019 amendment:
ARTICLE 7: DURATION AND TERMINATION OF AGREEMENT
7.1 This Agreement shall be effective as of the later of April 1, 2017 or the date it becomes effective under the U.S. Shipping Act of 1984, as amended, and shall continue in effect until April 1, 2030. Thereafter, the Agreement will be automatically renewed for additional one (1) year terms unless terminated by a Party or Parties according to the provisions of this Article 7, unanimous agreement of the Parties, or withdrawal of all but one of the Parties.
7.2 Any Party shall have the right to withdraw from this Agreement without financial or other penalty by giving twelve (12) months’ written notice, provided that such notice may not be given prior to April 1, 2023.
Discussion Note/Correction:
It appears Hapag-Lloyd may, upon one year notice, withdraw from the agreement as long as it's announced after April 1, 2023 (which it was).
(not legal advice, just educational discussion)
(this corrects the discussion in this podcast)
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The Maritime Professorᵀᴹ presents By Land and By Sea - an attorney breaking down the week in supply chain
with Lauren Beagen (Founder of The Maritime Professorᵀᴹ and Squall Strategies)
Let's dive in...
1 - The Federal Maritime Commission is still working through three rulemakings. No new movements.
1(b) - The FMC will host an informal hearing on the Red Sea and Gulf of Aden on February 7 (in person and virtual).
https://www.fmc.gov/fmc-announces-hearing-on-shipping-conditions-in-the-red-sea-2/
1(c) - The FMC's online applications are down. (Update at 2:05pm - they're back!)
2 - Hapag-Lloyd AG to utilize a land bridge through Saudi Arabia
from gCaptain and Reuters:
https://gcaptain.com/hapag-lloyd-to-offer-land-bridge-option-through-saudi-arabia/?subscriber=true&goal=0_f50174ef03-54e62442fe-170405670&mc_cid=54e62442fe&mc_eid=26e13788e2
3 - Four Senators (Senators Tim Kaine (D-VA), Todd Young (R-IN), Christopher Murphy (D-CT), and Michael Lee (R-UT)) sent a letter to the Biden Administration re: the Presidential authority for Red Sea military engagement.
https://www.kaine.senate.gov/imo/media/doc/12324yemenwarpowersletter.pdf
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