The Federal Maritime Commission (FMC) regulates the shipping and foreign trades of the United Statessince its formation in 1961 Prior to 1961, the FMC was part of U.S. Department of Commerce, and called the Federal Maritime Board. In 1961, it became . The FMC seeks to Protect shippers, carriers and others engaged in commerce outside of the U.S. from restrictive rules and regulations of foreign governments and from the practices of ships and carriers that have an adverse effect on U.S. shipping. This includes discriminatory, unfair, or unreasonable rates, tariffs, charges, classifications, and practices of ocean common carriers, terminal operators, and freight forwarders operating in the foreign commerce of the U.S.

Pursuant to the Shipping Act of 1984, the FMC Receives agreements among ocean common carriers or marine terminal operators and monitors them to assure that they are not substantially anticompetitive or in violation of the Act.

The FMC also licenses U.S. based international ocean transportation intermediaries (OTI) and requires bonds for U.S. & foreign based OTIs as well as requires and issues passenger vessel certificates showing evidence of financial responsibility of vessel owners or charterers to pay judgments for personal injury or death or to repay fares for the nonperformance of a voyage or cruise.