 Within 18 years, Liberia grew to surpass the United Kingdom as the world's largest register.The U.S. Maritime Commission was abolished on 24 May 1950, its functions were split between the U.S. Federal Maritime Board which was responsible for regulating shipping and awarding subsidies for construction and operation of merchant vessels, and Maritime Administration, which was responsible for administering subsidy programs, maintaining the national defense reserve merchant fleet, and operating the U.S.Merchant Marine Academy.