Maersk and Hapag-Lloyd will need to wait longer to officially launch their partnership, as the Federal Maritime Commission (FMC) has requested more information about the Gemini Cooperation to assess its potential competitive impacts.
The Gemini Cooperation Agreement was set to take effect today, July 15, but the FMC stated that the “Agreement as submitted lacks sufficient detail to allow for a complete analysis of its potential competitive impacts.”
The two container shipping giants submitted the Gemini Cooperation Agreement to the FMC on May 31, 2024. The agreement would permit these companies to share vessels in trades between the United States and Asia, the Middle East, and Europe. Agreements typically become effective 45 days after filing unless the Commission issues a Request for Additional Information (RFAI).
The FMC uses the RFAI process to clarify unresolved matters or address insufficient information in the original filing. The Commission noted that information requested through an RFAI is commercially sensitive and not publicly disclosed.
“Re-consideration of the agreement will not commence until the Commission has received a fully compliant response to its inquiry,” the FMC stated.
The Commission has 45 days from receiving complete responses to the RFAI to review the agreement for competitive and legal concerns before it can become effective. Additionally, a 15-day public comment period will open once the RFAI notice is published in the Federal Register next week.
