To complete the codification of title 46, United States Code, "Shipping", as positive law.

(This measure has not been amended since it was reported to the House on July 14, 2005. The summary of that version is repeated here.)

Declares that the purpose of this Act is to enact into positive law title 46 of the United States Code, entitled "Shipping." Sets forth organizational and administrative provisions regarding the Federal Maritime Commission (FMC).

Amends federal shipping law to require, upon the request of the Secretary of Defense, the head of an agency responsible for the administration of navigation or vessel-inspection laws to waive compliance with such laws in the interest of national defense.

Exempts cargo on a vessel from forfeiture if: (1) the cargo is owned in good faith by a person not the owner, master, or crewmember of the vessel; and (2) the customs duties on the cargo have been paid.

Sets forth a civil penalty (if no penalty exists) for persons convicted of violating a regulation or order of the FMC or the Secretary of Transportation.

Makes technical and conforming amendments and sets forth requirements with respect to: (1) documentation of vessels; (2) maritime liability; (3) regulation of ocean shipping, including shipping in foreign trade; (4) the Merchant Marine and the Merchant Marine Service; (5) clearance of, and tonnage taxes and duties levied against, vessels; (6) maritime security and drug enforcement; (7) vessel wrecks and salvage; (8) ice patrol and the destruction or removal of vessel derelicts; (9) safe containers for international cargo; and (10) the Maritime Administration in the Department of Transportation.

Amends various federal maritime laws to require the Secretary of Homeland Security (currently, the Secretary of the Treasury) to withhold or revoke clearance of a vessel that has committed certain maritime violations.

Repeals specified shipping laws.