The Federal Maritime Commission (FMC) has been thrust into the limelight recently due to various challenges faced by the trade and complaints laid by customers in terms of
- demurrage and detention practices followed by shipping lines
- refusal by shipping lines to provide empty containers for exports out of USA
- continuous increase in freight rates
- severe delays faced by trade due to congestion in US ports
The FMC, set up under the auspices of the Shipping Act of 1984, 46 U.S.C. 40101, is responsible for regulating the US international ocean transportation system that supports the transportation of goods by water in the foreign commerce of the United States.
The Mission of the FMC is to “ensure a competitive and reliable international ocean transportation supply system that supports the U.S. economy and protects the public from unfair and deceptive practices.”
In line with its responsibility to actively respond to current issues impacting the global supply chain and the American economy, the FMC has convened teams of industry leaders to address the above-mentioned industry concerns.
For further clarity on these industry issues and their implications for global trade, view this exclusive discussion with FMC Commissioner Carl Bentzel and Hariesh Manaadiar about “Demurrage & Detention and Managing Port Operations”. The event was sponsored by Ocean Insights (a project44 company).
The work being done by the FMC in this regard is being followed and recognised globally because what impacts the USA, has far-reaching effects on global trade.
The FMC is responsible for regulating the U.S. international ocean transportation system that supports the transportation of goods by water in the foreign commerce of the United States.
To read more about the FMC and its work related to the above topics, click here.