FMC secures $ 1.35 m in shipping penalties
The Federal Maritime Commission (FMC) recently settled two enforcement cases, collecting a total of $ 1,350,000 in civil penalties from a vessel-operating carrier and an NVOCC. Hyundai Glovis, based in Seoul, paid $ 1.3 m after allegations that it violated the Shipping Act by offering services outside its tariff rates and failing to publish all active tariffs for over a year, impacting multiple shipments.
Olympiad Line LLC paid $ 50,000 for similar violations related to providing services inconsistent with its published tariffs. Both companies agreed to the penalties without admitting guilt. These funds are deposited into the US General Fund and do not benefit the FMC. The enforcement highlights the FMC's efforts to ensure compliance with shipping regulations and fair trade practices.