Rate Filing Requirements for NVOCCs to be Repealed

It looks like Non-Vessel Operating Common Carriers ("NVOCCs") will soon have the burden of rate tariff filing lifted. Here is an excerpt from a news release issued yesterday by the Federal Maritime Commission ("FMC"):

The Federal Maritime Commission voted today to initiate a rulemaking that would relieve Non-Vessel-Operating Common Carriers (NVOCCs) from the costs and burdens of publishing in tariffs the rates they charge for cargo shipments. In a 3 to 1 vote, the Commission decided to grant this exemption from publishing rate tariffs to licensed NVOCCs. NVOCCs are common carriers that act as intermediaries between their shipper customers and steamship lines. According to comments filed with the Commission, this action could save many of these businesses up to $200,000 per year.

Under the rule, NVOCCs will still be required to publish their rules with tariff publishing services.