Federal Maritime Commission

GLOSSARY

FMC(Federal Maritime Commission)

The Federal Maritime Commission (FMC) is an independent federal agency based in Washington, D.C. that is responsible for the regulation of oceanborne international transportation of the U.S. for the benefit of U.S. exporters, importers, and the U.S. consumer. It is chaired by Daniel B. Maffei.

What is FMC(Federal Maritime Commission)?

The Federal Maritime Commission (FMC) is an independent federal agency based in Washington, D.C. that is responsible for the regulation of oceanborne international transportation of the U.S. for the benefit of U.S. exporters, importers, and the U.S. consumer. It is chaired by Daniel B. Maffei.

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Key takeaways:

The Federal Maritime Commission (FMC) has worked to ensure that neither the activities of liner shipping groups nor foreign government laws or regulations impose unfair costs on American exporters, or on American consumers of imported goods.

The FMC regulates both VOCCs (Vessel Operating Common Carriers) and NVOCCs (Non-vessel Operating Common Carriers).

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History:

The FMC was established as an independent regulatory agency by Reorganization Plan No. 7, effective August 12, 1961. Prior to that time, the United States Federal Maritime Board was responsible for both the regulation of ocean commerce and the promotion of the United States Merchant Marine. Under the reorganization plan, the shipping laws of the U.S. were separated into two categories, regulatory and promotional. The newly created FMC was charged with the administration of the regulatory provisions of the shipping laws, while the promotional role was vested in the Maritime Administration (now part of the U.S. Department of Transportation).

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Website:

https://www.fmc.gov/

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Related Terms:

NVOCC
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