Following an absence of just over a year CMA CGM, the world’s third largest container shipping line, has announced that it will rejoin the Transpacific Stabilization Agreement (TSA), effective March 8, 2007.
TSA is an ocean carrier research and discussion forum covering the trade from Asia to the US. It conducts independent economic and market research, generates internal carrier cost and service data, sets voluntary, non-binding service and pricing guidelines for the trade, and adopts common industry standards for terms of service, equipment interchange and regulatory compliance, among other activities.
‘We welcome this decision by CMA CGM and look forward to their participation as we head into a new round of service contracting in 2007,’ said Agreement chairman Ron Widdows, who is also president and chief executive officer of American President Lines, Ltd. ‘CMA CGM’s worldwide operations and the volumes they control represent an important influence in the transpacific market. Their decision to rejoin attests to the ongoing value of TSA, and will contribute to the effectiveness our industry as a whole in managing services and costs in the transpacific market.’