FMC publishes proposed rate index rule

Benchmarking

Thursday, October 13, 2011

The U.S. Federal Maritime Commission has published a proposed rulemaking to amend its rules to provide common carriers and their customers with certainty and flexibility if they decide to use long-term contracts that adjust based on a freight rate index that reflects changes in market conditions. The FMC has found that an increasing number of service contracts filed with the commission reference freight rate indexes. These indexes include, for example, the China Containerized Frei...

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