The Federal Maritime Commission said that it is trying
to identify any innovative and creative approaches that are developing in the terms and
provisions of new service contracts, following the enactment of the Ocean Shipping Reform
Act on May 1.
The reform has spread the use of individual service contracts and the
FMC has been inundated with service contract filings since May 1, said Harold Creel,
chairman of the FMC.
In May and June alone, 15,000 service contracts were filed. The FMC
expects to receive approximately 29,000 service contract filings between May 1 and Sept.
30, as well as some 35,000 contract amendments.
The key terms of service contracts are filed confidentially with the
FMC. Creel said that the FMC intends to perform an overall assessment of the impact of the
Ocean Shipping Reform Act.
The FMC reported that it is currently dealing with approximately 300
new applications for ocean transportation intermediary licenses, and almost 4,000
"grandfathered companies" which are being re-licensed.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now