The delay is due to the need for additional information to assess the competitive impacts of the proposed agreement.
The Gemini Cooperation Agreement, filed with the FMC on May 31, 2024, aims to enable vessel-sharing between the companies in trades connecting the United States with Asia, the Middle East, and Europe. Typically, such agreements become effective 45 days after filing, unless the FMC issues a Request for Additional Information (RFAI), which has occurred in this case.
The RFAI process is employed by the FMC to clarify unresolved issues or address insufficient information in the initial filing. The commission has found that the submitted Gemini Cooperation Agreement lacks the necessary details for a thorough analysis of its competitive implications.
The information requested by the FMC in an RFAI is commercially sensitive and not publicly disclosed. The review process for the agreement will not resume until the commission receives a fully compliant response. Once the responses are deemed complete, the FMC has 45 days to evaluate the agreement for competitive and legal concerns before it can become effective.
Additionally, a 15-day public comment period will begin following the publication of the RFAI notice in the Federal Register this week. Without this intervention by the commission, the Gemini Cooperation Agreement would have taken effect on Monday, July 15, 2024.
