Maritime regulators from the European Union, the US and China have met virtually this week for the fifth biennial meeting of the Global Regulatory Summit to discuss competition issues related to liner shipping.
Three broad agenda items were discussed during the meeting. First, sectoral developments since the start of the Covid pandemic including an analysis of supply and demand and an identification of bottlenecks in the ocean-linked supply chain and the causes of service disruptions.
Second, actions undertaken so far by relevant jurisdictions and authorities in response and their results. Finally, the way forward and possible actions to increase resilience and smooth operations in the sector.
“The performance of ocean carriers in meeting historic demand for their services and the unusually high costs to move ocean containers are of interest and concern to regulators, legislators, and the public globally,” commented Daniel Maffei, chairman of the Washington DC-based Federal Maritime Commission.
Amid record profits and dire schedule reliability, liners are facing massive scrutiny from many jurisdictions this year.
The next Global Regulatory Summit will be held in Beijing in 2023.