This bill proposes to amend federal law to create a new process for obtaining temporary waivers of coastwise endorsement requirements for vessels. It mandates that the head of an agency grant such a waiver if a person can reasonably demonstrate that no compliant "product carrier" is available to transport a specified good and that a good faith effort was made to locate one. Waivers issued under this process would be limited in duration, expiring by a specified date at least 30 days after issuance. The bill also allows for extensions of these waivers, each lasting at least 15 days, if the underlying circumstances remain largely unchanged. To ensure timely action, the bill establishes a 60-day deadline for agencies to approve or deny waiver requests. If a request is denied, the agency must provide a report detailing its findings within 14 days. Notably, if an agency fails to respond within the 60-day period, the request is automatically deemed granted for a period of 30 days. Furthermore, the legislation requires the agency to notify Congress within 48 hours of receiving any waiver request and again within 48 hours of issuing a waiver, providing a detailed explanation for the necessity of the waiver.