The US Federal Maritime Commission (FMC) has ended its requirement that US-licensed non vessel-operating common carriers (NVOCCs) must publish cargo shipment rates.

NVOCC rates exemption

The US Federal Maritime Commission (FMC) has ended its requirement that US-licensed non vessel-operating common carriers (NVOCCs) must publish cargo shipment rates.  It is considering extending the exemption to foreign, unlicensed NVOCCs in the future. 

The maritime regulator said the rule change, which it estimated would save more than 3,300 NVOCCs up to US$200,000 each a year, would reduce regulatory burdens on the shipping industry and customers. 

“The final rule limited the exemption to US-licensed NVOCCs, but commissioners said they would commence proceedings to receive public input on potential modifications, including the possibility of extending the exemption to foreign, unlicensed NVOCCs,” said the FMC. 

Commissioner Rebecca Dye said the rule change would provide regulatory relief and simplify business processes for thousands of companies.