FMC saves US NVOCCs money by dropping rate publishing rule

THE US Federal Maritime Commission (FMC) has voted in favour of a rule change that would no longer require non-vessel-operating common carriers (NVOCCs) to publish the tariff rates for sea freight.

"I believe this is one of the most significant commission actions since Congress passed the Shipping Act in 1984," said FMC chairman Richard Lidinsky Jr an American Shipper report.

"In a bipartisan vote, the commission has provided thousands of dollars in cost savings to these critical businesses and the hundreds of thousands of exporters and importers they serve," Mr Lidinsky said.

According to the FMC, a number of small NVOs filed statements to the commission claiming that that would save US$10,000 to $12,000 annually by not having to publish the tariff rates, while larger firms could achieve savings in the "six figures," the report said.

Source: www.schednet.com