The U.S. Shipping Board Merchant Fleet Corporation was established 16 September 1917, under provisions of the Shipping Act, to acquire, construct, and supervise the operation of U.S. Shipping Board merchant vessels. Prior to 11 February 1927, it was known as the "U.S. Shipping Board Emergency Fleet Corporation" (44 Stat. 1083).
In 1936, the Maritime Commission replaced both the U.S. Shipping Board Bureau and Shipping Board Merchant Fleet Corporation.