Maersk Line will apply to rejoin the Trans-Pacific Stabilisation Agreement (TSA) after a five-year absence.
TSA Chairman says voice will benefit carriers, shippers
The Transpacific Stabilization Agreement will accept Maersk Line back into its fold effective Dec. 24, the carrier discussion group said in a statement.
Having the world's largest container line as a member once again will strengthen its voice, said Ronald D. Widdows, chairman of the TSA and group president and chairman of Neptune Orient Line, parent company of APL.
"With the unprecedented challenges the industry is facing due to the current global economic crisis, TSA believes it is helpful to have another voice participating in the dialogue to seek solutions that will benefit both carriers and shippers," said Widdows.
TSA will now have 15 members and those lines will control more than 90 percent of the capacity in the U.S. import trade from Asia.