Commissioner Lidinsky Sees U.S. Shipper Benefit in China’s “One Belt-One Road” Plan
November 20, 2015
Addressing the 2015 World Shipping Summit in Guangzhou, China last Friday, November 6th, Commissioner Richard A. Lidinsky, Jr. recognized the new Chinese "One Belt-One Road" plan (OBOR), stating "The basic principles of ‘One Belt, One Road’ – regional cooperation, innovation, mutual market benefits, and economic growth for all countries involved – is consistent with the global maritime regulatory structure." Lidinsky went on to say, "The new ‘One Belt, One Road’ policy combined with recent trade developments worldwide, such as the [Transpacific Partnership], has the potential to help ignite new trade in regions of the world beyond our own borders."
The new trade and development proposal combines the ancient Silk Road with a maritime component moving westward from Asia towards Europe, and some parts of Africa. Late last week the Chinese government indicated that Hong Kong and Taiwan could be participants in the new effort as well. The official U.S. government position is to seek clarity, and monitor initial developments in this area. Lidinsky stated that once the U.S. led Transpacific Partnership becomes a reality, it will be natural for its participants to interact with the growth and maritime trade development in OBOR, particularly for U.S. exporters.
Other points raised in his Summit speech included growth of Alliances and the need for them to develop better stowage and port rotations practices in order to prevent terminal congestion, and to come to grips with mega vessel overcapacity, which is causing rate instability.
Prior to his Guangzhou visit, Commissioner Lidinsky addressed the American Chamber of Commerce in Hong Kong on current FMC issues, and held separate meetings with other industry representatives on current maritime affairs.
For additional information, contact:
Jewel Jennings-Wright, Counsel to Commissioner Lidinsky
Commissioner Richard A. Lidinsky, Jr. Disclosure:
I am a Commissioner with the U.S. Federal Maritime Commission. The Federal Maritime Commission is an independent regulatory agency responsible for regulating the nation’s international ocean transportation for the benefit of exporters, importers, and the American consumer. The FMC’s mission is to foster a fair, efficient, and reliable international ocean transportation system while protecting the public from unfair and deceptive practices. With that said, I should emphasize that my thoughts and comments here are mine and mine alone – they do not reflect the position of the Commission, and they should not be construed to represent the positions of any of my fellow Commissioners.