Congress will soon schedule a vote — as early as next week — on the Ocean Shipping Reform Act of 2022. With bipartisan support in both the House and Senate, the bill is likely to pass.
The largest overhaul of shipping regulations since 1998, the legislation broadens the regulatory powers of the Federal Maritime Commission with the goal of promoting U.S. exports while reining in ocean carrier market power that has strengthened over the last 25 years, primarily through the rise of vessel alliances.