Legal Definitions - Maritime Commission

The Maritime Commission is also known as the Federal Maritime Commission. It is an independentfederal agency that regulates the waterborne foreign and domestic commerce of the United States. Its main responsibilities are:

1. Ensuring that U.S. international trade is open to all countries on fair and equitable terms
2. Guarding against unauthorized monopolies in U.S. waterborne commerce
3. Ensuring that financial responsibility is maintained to clean up oil spills and indemnify injured passengers

The Agency was established in 1961 and its five commissioners are appointed by the President with the advice and consent of the Senate. The abbreviation for the Federal Maritime Commission is FMC.

An example of the Federal Maritime Commission's work is ensuring that all countries have equal access to U.S. ports and waterways. This means that no country can be discriminated against when it comes to shipping goods to or from the United States. Another example is preventing companies from monopolizing the shipping industry, which could lead to higher prices for consumers and less competition.

The Federal Maritime Commission also ensures that companies are financially responsible for any damage caused by oil spills or injuries to passengers. For example, if a ship spills oil into the ocean, the company that owns the ship is responsible for cleaning it up and paying for any damage it causes to the environment or wildlife.