The Federal Maritime Commission is issuing a Request for Additional information (RFAI) to better understand the potential competitive effects of changes the New York Shipping Exchange (NYSHEX) wants to make to the agreement they have on file at the Commission.
A 15-day public comment period has been established as part of the RFAI to accept comments, relevant information, or documents about the proposed changes to the NYSHEX Agreement (FMC No. 201234). The deadline for submitting comments in this matter is Tuesday, April 1, 2025.
NYSHEX filed an amendment to the NYSHEX Agreement (FMC No. 201234-007) on January 26, 2025, that would allow ocean common carriers to participate on its board. Agreements become effective 45 days after filing unless the Commission issues a RFAI as it is doing in this instance.
The Commission uses the RFAI process to obtain documents and verifiable information necessary to achieve clarity on matters that were not addressed by the filing parties or where insufficient information was provided in the originally filed agreement. The Commission has determined that the NYSHEX Agreement as submitted lacks sufficient detail to allow for a complete analysis of potential competitive impacts and whether the agreement fully complies with all statutory requirements.
Information sought as part of an RFAI is commercially sensitive and is not publicly published. Re-consideration of the agreement will not commence until the Commission has received a fully compliant response to its inquiry. The Commission has 45 days from when it determines responses to the RFAI are deemed complete to review the agreement for competitive and legal concerns before it becomes effective.
Changes to the NYSHEX Agreement would have gone into effect Wednesday, March 12, 2025, absent the action taken by the Commission in issuing the RFAI.
The Federal Maritime Commission does not possess the authority to approve or deny an agreement. The Commission can seek to enjoin an agreement if it is likely to substantially reduce competition by creating an unreasonable reduction in transportation service or increase in transportation costs.