Friday, 08 June 2018 11:07

FMC expands flexibility for NVOCCs

FMC

 

The Federal Maritime Commission (FMC) has approved changes that will relieve regulatory burdens on Ocean Transportation Intermediaries (OTI) and simplify requirements for using non-vessel-operating common carrier (NVOCC) Negotiated Rate Arrangements (NRAs) and NVOCC Service Arrangements (NSAs).   NSAs and NRAs are instruments created by the Commission, at the request of shipper and carrier stakeholders, respectively in 2004 and 2010. They provide shippers and OTIs with a more efficient way to comply with Shipping Act reporting requirements while relieving them from the tariff filing process. The vote came during a public meeting of the Commission that also included a briefing on staff practices and procedures for monitoring ocean carrier and Marine Terminal Operator agreements.

Read 76 times Last modified on Friday, 08 June 2018 11:17
Login to post comments