Shipping Reform Act of 1979

[AI summary unavailable — showing source text] Shipping Reform Act of 1979 - Amends the Shipping Act, 1916, to stipulate that contracts for foreign commerce between water carriers (or conferences of carriers) and shippers or consignees which provide reduced rates in exchange for a fixed portion of the shipper's or consignee's business shall provide for a spread between such rates and ordinary rates charged contract shippers that is: (1) not greater than 18 percent of the ordinary rates if both the shipper and consignee are party to the contract; or (2) not greater than 13 percent of the ordinary rates if only the shipper or consignee is a party to the contract. Requires common carriers by water to file with the Federal Maritime Commission for its approval: (1) intermodal agreements with other specified types of common carriers; (2) acquisition or merger agreements of any United States' common carrier by water by another domestic common carrier by water; (3) agreements for the acquisition of 50 percent or more of the operating assets of any domestic water carrier by another such carrier; and (4) shippers councils agreements. Stipulates that agreements to be performed entirely within a foreign country or between foreign countries…