Siem Car Carriers Agrees to Pay USD 135000 Fine to US Maritime Watchdog

  • Business & Finance

Oslo-based car carrier Siem Car Carriers has agreed to pay USD 135,000 fine following a compromise agreement with the U.S. Federal Maritime Commission.

FMC disclosed that earlier this year Siem Car Carriers submitted a voluntary disclosure to the commission which identified certain unfiled space charter agreements with respect to its provision of Roll On–Roll Off transport of new and used automobiles and other rolling stock in U.S. trades between March 1 and March 7, 2010.

These agreements had not been filed with the FMC or become effective under the U.S. Shipping Act.

FMC says that Siem Car Carriers worked cooperatively with the U.S. Bureau of Enforcement to address and correct the potential violations. The carrier has also agreed to provide ongoing cooperation with other commission investigations or enforcement actions with respect to these activities.

“Carriers who fail to properly file their agreements affecting carrier working relationships in the U.S. oceanborne trades are liable for civil penalties, no matter the size of the trade or the market share of the carrier involved. Voluntary disclosures can serve to diminish carrier exposure to very significant monetary penalties, while assisting the Commission’s regulatory efforts in pursuing other carriers involved in such unfiled space chartering arrangements,” FMC Chairman Mario Cordero said.

Related news

List of related news articles