Federal Maritime Commission

Federal Maritime Commission, independent U.S. government agency, composed of 5 presidential appointees, that regulates the nation's shipping laws. Overseeing both foreign and domestic offshore commerce, the commission regulates the rates, services, and agreements of U.S. shipping companies. Established in 1969, the commission guards against unauthorized monopoly in the waterborne commerce of the United States. Among other responsibilities, the commission ensures that ship owners and charterers are financially able to pay any claims involving accidental injuries or death aboard their vessels.