On March 11, the Federal Maritime Commission (FMC) issued a statement regarding the effects of military activities in the Middle East on ocean freight shipping through the Strait of Hormuz.
The FMC emphasized that shipping rates, charges, and rules must adhere to the Shipping Act. Under FMC regulations, carriers must provide at least 30 days notice before increasing tariffs due to higher shipping costs.
Carriers can request a Special Permission to reduce this waiting period, subject to FMC approval