News
The U.S. Federal Maritime Commission (FMC) has announced the formation of an internal Container Freight Index and Derivatives Working Group. The working group will gather information, research, analyze, consult with other government agencies, and advise the commission on issues arising from the use of container freight rate indices in service contracts and index-based derivative transactions.
''Index-based ocean freight rates and derivatives have potential to be useful tools for shippers, intermediaries, and ocean carriers to increase rate certainty and manage risk,'' said FMC Chairman Lidinsky.
The working group has been asked to provide an initial status report at the next Commission meeting on June 8, 2011.
