THE Alliance preps fund for when member line goes broke

liner Logistics

Agreement to set up contingency fund draws praise from US official.

THE
Alliance
has
reached
an
agreement
to
create
a
rainy
day
fund
to
stave
off
the
effects
of
 insolvency
by
a
member
liner
operator.

The
major
container
shipping
alliance
is
seeking
approval
from
the
Federal
Maritime
Commission
for
the
measure,
which
aims
to
respond
to
the
type
of
fallout
seen
when
Hanjin
Shipping
collapsed
into
bankruptcy
last
year.

The
proposal
has
already
drawn
praise
from
one
of
the
FMC’s
members,
Commissioner
William
Doyle.

“It
is
so
important
that
another

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Eric Martin