The Federal Maritime Commission (FMC) has recently concluded two compromise agreements, recovering a total of $1.35 million in civil penalties related to violations of the Shipping Act. These agreements were made with a vessel-operating common carrier (VOCC) and a non-vessel-operating common carrier (NVOCC).
Hyundai Glovis, a VOCC based in Seoul, was involved in activities that allegedly violated the Shipping Act. These included providing services that did not align with their published tariffs and failing to properly publish active rates and charges. The FMC claimed these practices occurred over a year and involved multiple shipments. In settlement, Hyundai Glovis agreed to pay $1.3 million.
Separately, Olympiad Line LLC, an NVOCC, faced allegations for similar tariff violations. They also settled by agreeing to a payment of $50,000. While both companies reached these agreements, they did not admit to any violations of the Shipping Act or FMC regulations.
The civil penalty payments will be deposited into the U.S. General Fund, with the FMC receiving no portion of these funds.
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