Topic of the Week (12/1/23):
It's the Captain's Log Holiday Edition!
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 text, but we discuss the recent meeting with FMC Chairman Daniel Maffei and Congressman Jake Auchincloss (D-MA) re: the comment he filed with Congressman Brian Babin (R-TX) for the D&D rulemaking.
FMC Rulemakings:
1) Defining Unreasonable Refusal to Deal or Negotiate w/r/t/ Vessel Space Accommodations Provided by an Ocean Common Carrier,
2) Billing Practices of Detention and Demurrage, and
3) Defining Unfair or Unjustly Discriminatory Methods and their one request for information (RFI) on the Maritime Transportation Data Initiative.
2 - The White House announced supply chain initiatives that have already been undertaken or about to be undertaken, this week: https://www.whitehouse.gov/briefing-room/statements-releases/2023/11/27/fact-sheet-president-biden-announces-new-actions-to-strengthen-americas-supply-chains-lower-costs-for-families-and-secure-key-sectors/
A few helpful links from the White House Announcement:
* FLOW: Freight Logistics Optimization Works (https://www.bts.gov/flow)
* 1st Meeting of the White House Council on Supply Chain Resilience:
https://www.whitehouse.gov/briefing-room/statements-releases/2023/11/29/readout-of-the-inaugural-meeting-of-the-white-house-council-on-supply-chain-resilience/
3 - Canal de Panamá is introducing a line-jumping transit slot for auction; this the canal plans to reduce vessel transits to 18 per day by Feb 1, 2024 (down from typical 36/day vessel transits). And the bulk vessel lines are starting to increase, squeezing the spot market for bulk transit.
Greg Miller's FreightWaves article:
https://www.freightwaves.com/news/another-panama-canal-red-flag-spiking-product-tanker-rates
Bloomberg article on "Queue-Jumping Auctions":
https://www.bnnbloomberg.ca/panama-canal-adds-extra-queue-jumping-auctions-for-stuck-ships-1.2003870#:~:text=Panama%20Canal%20Adds%20Extra%20Queue%2DJumping%20Auctions%20for%20Stuck%20Ships,-Alex%20Longley%2C%20Bloomberg&text=(Bloomberg)%20%2D%2D%20The%20Panama%20Canal,due%20to%20an%20ongoing%20drought.
4 - Bed Bath & Beyond filed another suit at the Federal Maritime Commission, this time against MSC Mediterranean Shipping Company.
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** As always the guidance here is general and for educational purposes only, it should not be construed to be legal advice and there is no attorney-client privilege created by this video. If you need an attorney, contact an attorney. *