Federal Maritime Commission (FMC)
The Federal Maritime Commission is an independent U.S. government agency responsible for regulating international ocean transportation for cargo moving in and out of the United States.
Definition
The Federal Maritime Commission is an independent U.S. government agency responsible for regulating international ocean transportation for cargo moving in and out of the United States. The FMC's primary role is to ensure a fair efficient and reliable international shipping system by overseeing ocean carriers freight forwarders and marine terminal operators. The FMC also enforces regulations related to carrier agreements tariff filings and dispute resolution
Related Terms
FAF (Fuel Adjustment Factor)
A surcharge applied by carriers to compensate for fluctuations in fuel prices.
FAK (Freight All Kinds)
A freight rate applied uniformly across multiple types of goods shipped in the same container.
FCA (Free Carrier)
An Incoterm in which the seller is responsible for delivering the goods to a designated carrier or location with all risks and costs transferring to the buyer at that point.
FCL (Full Container Load)
A shipping method where a single consignee books an entire container for their cargo.
FEU (Forty-Foot Equivalent Unit)
A standard unit of measurement used in the shipping industry to describe the capacity of container ships and terminals.
Final Destination
The ultimate delivery point where the consignee receives the cargo.
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