This bill reauthorizes funding for the Federal Maritime Commission (FMC) and changes several FMC authorities and programs. It sets new annual funding levels for fiscal years 2026–2029. The bill narrows a statutory purpose phrase to apply to foreign commerce and replaces the word "promote" with "support." It expands the legal definition of an ocean common carrier to include carriers owned, controlled by, or legally/financially related to corporations based in certain foreign countries (for example, nonmarket economy countries or countries identified in specific Trade Act reports).
The bill requires the FMC to accept and investigate complaints about market manipulation or anticompetitive practices by registered shipping exchanges and to report findings to two congressional committees. It shortens the deadline to establish a shipping exchange registry and changes how registry standards are applied. It repeals section 40706 (text removed from statute). The bill updates FMC data collection rules, adds limits to avoid duplicating data already submitted to other federal agencies, and requires the FMC to keep certain investigation materials nondisclosed unless a majority of the Commission votes to disclose them in a proceeding.
The bill creates or reorganizes national advisory committees: it renames and adjusts the National Shipper Advisory Committee, establishes a National Port Advisory Committee with 13 members (five marine terminal operators, five port authorities, three labor representatives), and establishes a National Ocean Carrier Advisory Committee with nine members (including at least three ocean transportation intermediaries). It requires the FMC to include new items in its annual report, such as analysis of trade imbalances tied to carrier practices and aggregated audit results. The bill also directs the FMC to begin rulemaking on price indexes for containerized ocean freight published by registered shipping exchanges (an advance notice within 1 year and a final rule within 3 years).
No publicly available information.
No publicly available information.