According to CNBC Freight News, Ocean carriers will be fined if they do not balance the Export-Import return of empty containers. “Instead of the 10% threshold, each carrier must show on a quarterly basis that their imports and exports are balanced. Intermodal rail balance will also be calculated. The carrier would be responsible for drawing down its empty box totals by 25% each subsequent quarter with the goal of depleting its total accumulation of empty containers by four business quarters. If a carrier is found in violation, a $100 fee per container out of balance will be assessed at a quarterly rate” (CNBC).
Currently, the Port of New York and New Jersey is holding over 200 empty containers, which are taking up valuable space and prohibiting the fluid movement of imports. Between the fine and better collaboration with a Rail system, the Port of New York expects the inefficiency issue to subside.
