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Amazon is getting into the oceanic freight shipping game
Virtually every product produced in Asia comes to the US by boat and, as such, oceanic shipping has become a $350 billion industry. Now, Amazon wants a piece of that action. The online mega-retailer's China division has been awarded clearance by the Federal Maritime Commission to conduct ocean freight services as a licensed Ocean Transportation Intermediary. That means it can legally ship goods for other companies. The new service, dubbed Fulfillment by Amazon (FBA), won't do much directly for individual consumers. However, it will allow Amazon's Chinese partners to more easily and cost-effectively get their products across the Pacific and into said customers waiting hands.
