CONTROLLED CARRIERS.

SEC. 108. CONTROLLED CARRIERS. Section 9 of the Shipping Act of 1984 (46 U.S.C. App. 1708) is amended by— (1) striking “service contracts filed with the Commission” in the first sentence of subsection (a) and inserting “service contracts, or charge or assess rates,”; (2) striking “or maintain” in the first sentence of subsection (a) and inserting “maintain, or enforce”; (3) striking “disapprove” in the third sentence of subsection (a) and inserting “prohibit the publication or use of”; and (4) striking “filed by a controlled carrier that have been rejected, suspended, or disapproved by the Commission” in the last sentence of subsection (a) and inserting “that have been suspended or prohibited by the Commission”; (5) striking “may take into account appropriate factors including, but not limited to, whether—” in subsection (b) and inserting “shall take into account whether the rates or charges which have been published or assessed or which would result from the pertinent classifications, rules, or regulations are below a level which is fully compensatory to the controlled carrier based upon that carrier’s actual costs or upon its constructive costs. For purposes of the preceding sentence, the term ‘constructive costs’ means the costs of another carrier, other than a controlled carrier, operating similar vessels and equipment in the same or a similar trade. The Commission may also take into account other appropriate factors, including but not limited to, whether—”; (6) striking paragraph (1) of subsection (b) and redesignating paragraphs (2), (3), and (4) as paragraphs (1), (2), and(3), respectively; (7) striking “filed” in paragraph (1) as redesignated and inserting “published or assessed.”; (8) striking “filing with the Commission.” in subsection (c) and inserting “publication.”; (9) striking “Disapproval OF Rates.—” in subsection (d) and inserting “Prohibition of Rates.—Within 120 days after the receipt of information requested by the Commission under 112 STAT. 1909this section, the Commission shall determine whether the rates, charges, classifications, rules, or regulations of a controlled carrier may be unjust and unreasonable.”; (10) striking “filed” in subsection (d) and inserting “published or assessed”; (11) striking “may issue” in subsection (d) and inserting “shall issue”; (12) striking “disapproved.” in subsection (d) and inserting “prohibited.”; (13) striking “60” in subsection (d) and inserting “30”; (14) inserting “controlled” after “affected” in subsection (d); (15) striking “file” in subsection (d) and inserting “publish”; (16) striking “disapproval” in subsection (e) and inserting “prohibition”; (17) inserting “or” after the semicolon in subsection (f)(1); (18) striking paragraphs (2), (3), and (4) of subsection (f); and (19) redesignating paragraph (5) of subsection (f) as paragraph (2).