A bill to amend the Foreign Sovereign Immunities Act with respect to admiralty jurisdiction.

Amends the Foreign Sovereign Immunities Act to restrict damages in admiralty cases for improper arrests to the damages incurred during the detention. Authorizes suits to enforce a maritime lien in rem. Provides that a decree against a foreign state may not be an amount greater than the value of the vessel or cargo upon which the lien arose.

Grants to U.S. courts jurisdiction over a foreign state in a case brought to foreclose a preferred mortgage as defined by the Ship Mortgage Act.