US FMC designates HMM as state-controlled carrier
03/07/2024
The United States Federal Maritime Commission (FMC) designated HMM as a controlled carrier of the Government of the Republic of Korea and added it to the agency’s Controlled Carrier List.
Controlled carriers are ocean common carriers operating in US-foreign trades that are directly or indirectly owned or controlled by a foreign government. These carriers are subject to enhanced regulatory oversight by the US Commission, unless there is a treaty between the United States and the controlled carrier’s host nation.
Moreover, under the Treaty of Friendship, Commerce, and Navigation signed in 1957 between the United States and the Republic of Korea, HMM qualifies for the exception under 46 U.S.C. 40706(1), exempting it from the requirements of Title 46, Chapter 407. However, HMM still must comply with the provisions of 46 U.S.C. 40502(f) and 46 U.S.C. 46106(b)(7).
The Controlled Carrier List excludes all foreign-owned, foreign-controlled, or government-linked companies and assets. It specifically includes companies that meet the statutory requirements of 46 U.S.C. Chapter 407. Regulations related to controlled carriers are outlined in 46 C.F.R. 565.
Source: Container News
