This bill reauthorizes the Federal Maritime Commission through FY2029 and expands the commission’s authority to regulate anticompetitive practices within the international ocean transportation system.

Specifically, the bill expands the definition of controlled carrier (a category of carriers that are subject to additional regulatory oversight) to include carriers legally or financially related to a corporation based or headquartered in, or otherwise significantly linked to, a nonmarket economy country or a country subject to monitoring by the Office of the U.S. Trade Representative.

Additionally, the bill requires the commission to accept and investigate complaints concerning alleged anticompetitive practices by registered shipping exchanges. (A shipping exchange is a data platform that enables businesses shipping goods to connect with carriers to transport those goods.) The bill also requires the commission to report annually on anticompetitive and nonreciprocal trade practices by controlled carriers or marine terminal operators.
 
Further, the bill establishes a National Port Advisory Committee and a National Ocean Carrier Advisory Committee. The committees, together with the existing National Shipper Advisory Committee, are charged with advising the commission on policies relating to competitiveness, reliability, and efficiency in the international ocean freight delivery system.

Finally, the bill prohibits the commission from releasing information and documents developed pursuant to an enforcement investigation unless the commission determines that they are relevant to an administrative or judicial proceeding and agrees to release them by a majority vote.