The federation was formed in 1992 with the participation of 32 business people who played a determining role in the marine industry. The aim of the federation (original name Marine Industry Federation of Balaton) was the co-ordination of business people residing in the Balaton (Hungary`s largest lake) region involved in shipbuilding, commerce and leasing, as well as representing their interests. Later, acknowledging the importance of the association more members joined from other regions. Following this geographical extension the present name emerged in 2001. The federation now has 49 full members and 3 honorary members. The Hungarian Marine Industry Federation tries to solve the problems and answer the questions raised by its members, as well as providing guidance and financial support for the education of the shipbuilding trade.