IFSMA was formed in 1974 by eight national shipmasters' associations to unite the world's serving shipmasters into a single professional coordinated body. It isa non-profit, apolitical organisation dedicated solely to the interest of theserving shipmaster. Thousands of shipmasters from all continents are affiliatedto IFSMA, either through their national associations or as individual members.

IFSMAis a federation established to uphold international standards of professionalcompetence for seafarers commensurate with the need to ensure safe operationalpractices, preservation from human injury, protection of the marine environmentand safety of life and property at sea.

In1975 IFSMA was granted status as a Non-Governmental Organization (NGO) at theInternational Maritime Organization (IMO), a specialized United Nations (UN)agency. This consultative status enables the Federation to represent the views and protect the interests of the serving shipmasters unfettered and unfiltered either by national governments or by shipping companies.