Wicker Supports New FMC Guidance to Improve Freight Fluidity

We applaud Chairman Wicker for his leadership and responsiveness during the development and finalization of the Federal Maritime Commission’s revised guidance on demurrage and detention.  The final rule, “Docket No. 19-05, Interpretive Rule on Demurrage and Detention under the Shipping Act”, will become effective upon its publication in the Federal Register. 

Please see the following press release expressing Wicker’s support, including ACSA stimulated actions engaging the Memphis Supply Chain Innovation Team and the creation of a Shipper Advisory Board.   Chairman Wicker’s support was instrumental in advancing this guidance which will create efficiency and fairness in the supply chain.  We are grateful for his support.

More Advocacy Issues

On May 25th, the Commodity Futures Trading Commission staff held a roundtable to consider the implication of a non-intermediated direct clearing model for digital asset derivatives. See the summary below for more information. More here.

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On May 24th, PoliticoPro’s newsletter titled “Cypto concerns come to ag” highlighted some of the concerns raised by the American Cotton Shippers Association and other agricultural groups regarding the recently filed proposal filed by LedgerX LLC d.b.a. FTX US Derivatives (FTX). More here.

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On May 10, ACSA submitted its comments in response to the U.S. Commodity Futures Trading Commission’s request for public comments on LedgerX, LLC d.b.a. FTX U.S. Derivatives’ (“FTX”) request for amended Derivatives Clearing Organization (“DCO”) Registration Order. More here.

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On May 12, the House Transportation Committee Subcommittee on Railroads, Pipelines, and Hazardous Materials held a hearing entitled “Board Member Views on the Surface Transportation Board (STB) Reauthorization.” More here.

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On May 12th, the House Agriculture Committee held a hearing on “Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models.” Committee Chairman David Scott (D-GA) said that he had serious concerns about the risks the FTX proposal would pose to derivatives markets’ primary functions of price discovery and risk hedging. Several members […]

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On April 15th, China Cotton Association (CCA) held its 2022 Annual Council Meeting online, with over 120 participants made of CCA’s Council members, government officials and industry experts. The meeting mainly focused on CCA’s works and efforts in 2021 and industry outlook and work priorities for 2022, which is to put continued efforts to promote […]

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