losses. This Act is in support of the same goals. 4. Creation of the Arctic Seaway Development Corporation There is hereby created, subject to the direction and supervision of the Secretary of Transportation, in conjunction with the Secretary of State, the Secretary of Defense operating through the Secretary of the Army, and the Secretary of the Department in which the Coast Guard is operating, a body corporate to be known as the Arctic Seaway Development Corporation (hereinafter referred to as the Corporation ). 5. Services (a) In general The Secretary of Transportation, in conjunction with the Secretary of the Department in which the Coast Guard is operating, the Secretary of Defense acting through the Secretary of the Army, and the Secretary of State, shall approve services for which the Corporation established under section 4 may charge a toll to vessels. (b) Management (1) Board of directors (A) Establishment There is established the Board of Directors of the Corporation (hereinafter referred to as the Board of Directors ), which shall be composed of 9 members as described in subparagraph (B). (B) Composition The Board of Directors shall consist of— (i) the Chair of the Board of Directors to be appointed and designated by the President of the United States