When U.S. Customs and Border Protection (CBP) announced the seizure of $70,737 in unreported currency from the captain of the M/V Sheng Ning Hai in Baltimore, many people may be surprised. But for those familiar with maritime operations, the only unusual part of this case was the captain’s failure to report the money—not the fact that he had it.
Commercial shipmasters routinely carry large sums of cash for legitimate, industry‑standard reasons. But that long‑standing practice still triggers U.S. reporting requirements. Failure to comply leads to immediate seizure, even when all funds are lawful.
This article breaks down what happened in Baltimore, why ship captains often carry cash, and what vessel owners and shipping agents must know to avoid similar CBP enforcement actions.
What Happened During the CBP Boarding in Baltimore
On January 22, 2026, CBP conducted an enforcement boarding of the M/V Sheng Ning Hai, a Chinese‑flagged COSCO Shipping bulk vessel. As part of routine inspection, the ship’s master was required to declare any currency on board exceeding $10,000 by filing a FinCEN Form 105.
CBP later discovered:
- The captain had previously declared $34,480 during a port call in Searsport, Maine.
- The ship’s agent provided an additional $40,000 while still in Maine.
- The captain failed to report the new total when arriving in Baltimore.
- A full search found $70,737 stored in the purser’s safe.
CBP seized the currency based on failure to report, not because the currency was illegal. The vessel itself was released to continue its voyage.
Why Do Ship Captains Carry Large Amounts of Cash?
Although surprising to the general public, it is standard maritime practice for commercial shipmasters to maintain a working cash fund. Reasons include:
1. Paying Crew Wages at the End of a Voyage
Many crew members:
- Cannot receive electronic wages in foreign ports
- Require cash for onward travel
- Work on short‑term or offshore contracts where cash payment remains customary
Even in 2026, cash wage disbursements continue across many fleets.
2. “Captain’s Cash” for Operational Expenses
Shipping operations often require quick payments where credit or wire transfer is not feasible—for example:
- Line handlers
- Launch boats
- Shore transportation
- Dockside repairs
- Medical visits
- Overtime port fees
Agents routinely provide cash advances to the master to handle these expenses.
3. Shipping Agent Cash Advances
The additional $40,000 the master received in Maine fits a common scenario: agents issue cash for port‑related expenses, and captains hold it in the purser’s safe until it is used or accounted for. These practices are legal and normal. What is not optional is reporting.
CBP’s Legal Basis for Seizing Currency
Under U.S. law:
- Travelers and vessel operators may carry any amount of currency.
- But amounts over $10,000 must be reported through FinCEN Form 105.
- Failure to report allows immediate civil forfeiture.
In this case, the captain:
- Failed to report newly added funds
- Did not amend the FinCEN 105
- Denied carrying currency during inspection
Those missteps triggered the seizure—not the origin of the funds.
How Vessel Operators Can Avoid CBP Currency Seizures
To prevent enforcement problems during U.S. port calls:
1. File FinCEN 105 prior to arrival
Declare all currency on board, not just shipmaster holdings.
2. Amend the filing if the amount changes
This was the captain’s critical mistake.
3. Maintain a single, identifiable location for all cash
Multiple or hidden stashes raise concerns.
4. Keep documentation of the funds’ source
Agent receipts, wage logs, and cash advance records reduce risk.
5. Train shipmasters on U.S. reporting rules
Especially for foreign‑flag operators unfamiliar with U.S. enforcement standards.
If CBP Seized Currency From a Vessel, What Should You Do?
When CBP seizes cash, the vessel typically continues its voyage—but the money does not. Captains, agents, or shipowners then face three options:
- Petition for Remission/Mitigation
- File a Claim for Federal Court Review
- Submit an Offer in Compromise
Choosing the wrong path can delay the vessel, damage relationships with CBP, or lead to permanent forfeiture.
If your company experiences a CBP currency seizure, or if you want help establishing compliance procedures for future port calls, contact a customs attorney immediately. Quick action often makes the difference between recovering the funds and losing them forever.