Chairman Cordero Meets with Cotton Club Members
April 27, 2016
Chairman Cordero met yesterday with members of the Cotton Club, a group consisting of trade counselors at foreign embassies based in Washington, DC representing the maritime interests of several countries in Europe, Asia, and Canada.
Chairman Cordero spoke about the FMC’s primary focus on review and analysis of alliances and their impact on competition, making parallels to the lack of competition amongst U.S. carriers in the airline industry. He noted that we will not know the true impact of these shipping alliances for a few years, and there will be some negative and some positive impact on ports.
The Chairman spoke with the members about the different functions of the Federal Maritime Commission and the role it plays in trade. Cordero explained the historical underpinnings of the Commission and the importance of its position as an independent commission. He noted that the Commission was established in 1916, only two years after the Panama Canal was completed.
Chairman Cordero said “I found the discussion to be beneficial and informative. Given the global nature of what the FMC does in regulating oceanborne international commerce, it is important to get the views and perspectives of the officials from embassies with maritime interests.”