News out of the US is that the Federal Maritime Commission (FMC) has reached compromise agreements with three firms, securing over $2.3 million in civil penalties.
Each firm has also pledged to amend certain business practices to adhere to FMC regulations.
The most substantial fine was imposed on French liner CMA CGM, which paid $1.975 million to settle claims that it had improperly broadened the definition of a merchant in its bill of lading, leading to the incorrect billing of a third party.
This was found to be in breach of the Demurrage and Detention Billing Rule (46 CFR Part 541).
The other two companies involved, Vanguard and Shipco, have committed to full cooperation with the FMC in any forthcoming investigations or enforcement actions.
However, the specific amounts paid were not disclosed.
These settlements underscore the FMC's dedication to promoting fair and transparent business practices in the maritime sector.
By holding companies accountable and requiring them to modify their practices, the FMC seeks to uphold a competitive and efficient market that serves the interests of all stakeholders.
These recent agreements mark significant progress in the FMC's mission to enforce compliance and safeguard the interests of shippers and other parties involved.
As the maritime industry evolves, the FMC remains committed to enforcing its regulations and ensuring companies conduct business fairly and transparently.
