Federal Agencies » Federal Maritime Commission (FMC)
An independent federal agency established in 1961 and led by five presidentially appointed commissioners, the FMC is charged with regulatory oversight of U.S. international liner shipping. The basis for U.S. regulatory policy on shipping is the Shipping Act of 1916, the Shipping Act of 1984, the Foreign Shipping Practices Act of 1988, and the Ocean Shipping Reform Act of 1998. Generally, the FMC:
- Regulates the waterborne foreign commerce of the United States and protects against unauthorized collusive activity.
- Approves or disapproves agreements filed under the Shipping Act.
- Reviews confidential service contracts for signs of collusion and concerted action by carriers and shippers.
- Monitors tariffs to ensure that they are publicly available.
- Protects shippers, carriers, and others engaged in the U.S. foreign commerce from restrictive rules and regulations of foreign governments and from the practices of foreign-flag carriers that have an adverse effect on shipping in the U.S. trades.
- Issues passenger vessel certificates showing evidence of financial responsibility of vessel owners or charterers to pay judgments for personal injury or death or to repay fines for the nonperformance of a voyage or cruise.