News
The U.S. Federal Maritime Commission voted at its meeting on Thursday to issue a final rule on ocean transportation intermediary (OTI) licensing and financial responsibility requirements, and directed staff to prepare an advanced notice of proposed rulemaking concerning service contracts and NVOCC service arrangements.
Under the new rules, OTIs will be required to renew licenses every three years through a convenient on-line portal beginning in late 2016, and an expedited hearing process will be provided for license denials, revocations, or suspensions.
Separately in its closed session, the FMC determined to move forward to seek comment on its service contract rules to clarify, update, encourage leveraging technology, and provide regulatory relief where possible. The maritime watchdog will publish the proposal and request public comment later in the year. Review of the service contract rules was initiated in response to the President Obama’s call in Executive Order 13563 to conduct a retrospective review of existing regulations.
