The Federal Maritime Commission's (Commission or FMC) regulatory objectives are guided by the agency's basic mission. The Commission's mission is to administer the shipping statutes as effectively as possible to provide an efficient, economic, and nondiscriminatory ocean transportation system in an environment free of unfair foreign maritime trade practices. Commission regulations are designed to implement each of the various statutes the agency administers in a manner consistent with this mission and in a way that minimizes regulatory costs, fosters economic efficiencies, and promotes international harmony.
Proposed legislation pending in Congress could alter significantly the regulatory scheme regarding ocean commerce. This same legislation could also affect the continued existence of the Commission. The Commission will be monitoring this legislation closely as it obviously would affect the Agency's regulatory planning and priorities, and depending on the effective date(s) of its provisions, could require regulatory action during the coming year. Until any such legislation is enacted and an implementation schedule is determinable, the principal objective or priority of the Agency's current regulatory plan will be to continue to assess its major existing regulations for continuing need, effectiveness, burden on the regulated industry, fairness, and clarity. The Commission has under review, inter alia, regulations regarding passenger vessel operator financial responsibility, and co-loading arrangements between non-vessel-operating common carriers.
Review of the above mentioned passenger vessel financial responsibility regulations represents an important regulatory action and serves as an example of the Commission's objective to regulate fairly and effectively while imposing a minimum burden on the regulated entities, following the principles stated by the President in Executive Order 12866. Passenger vessel financial responsibility regulations are issued pursuant to the provisions of Pub. L. 89-777, 46 U.S.C. app. 817e and 817d. These regulations set forth the procedures whereby owners or operators of vessels having berth or stateroom accommodations for 50 or more passengers and embarking at U.S. ports shall establish their financial responsibility to indemnify passengers for nonperformance of transportation to which they would be entitled and to meet any liability which may be incurred for death or injury to passengers or other persons on voyages to or from U.S. ports. The Commission's review of its current regulations in this area is for the purpose of assuring that the Commission's requirements provide adequate coverage for passenger vessel customers in regard to performance and casualty, while not imposing an undue burden or cost on the passenger vessel industry. A more detailed description of this important significant regulatory action is contained in section B of this plan.