The Federal Maritime Commission has updated its list of controlled carriers, which are shipping companies under foreign government control, increasing their regulatory oversight. The list now includes the Chinese-Polish Joint Stock Shipping Company, making it subject to certain requirements to ensure fair competition and prevent disruptive pricing practices. The updated list still includes carriers such as COSCO SHIPPING and HMM, highlighting their ownership by the governments of China and the Republic of Korea. The Commission invites feedback on any potential errors in the list.
Simple Explanation
Imagine there are big boats that carry lots of goods across the ocean, and some of these boats are run by other countries' governments. The people who make the rules about these boats want to make sure everything is fair, so they check these government-run boats extra carefully to make sure they follow the rules and don’t make prices go crazy.