By Jordan Fabian (Bloomberg) — President Joe Biden on Thursday will sign a bipartisan bill aimed at driving down costs of shipping goods overseas, a measure his administration has touted as…
https://gcaptain.com/president-biden-to-sign-ocean-shipping-reform-act-into-law-today/
By the World Shipping Council
Earlier this week, the U.S. House of Representatives passed The Ocean Shipping Reform Act of 2022, s3580. The measure had already passed the U.S. Senate.
Following the passage of the new legislation,...
The scales of trade for U.S. importers and exporters have been severely tilted against them since the pandemic. President Biden is expected to sign the Ocean Shipping Reform Act on Thursday. Importers hope this update giving the Federal Maritime Commission more power will help restore that balance. SONAR charts show the current actions of the ocean carriers on rejecting container orders which has smacked U.S. exports.
https://www.freightwaves.com/news/shipping-reform-fmc-chairman-interview
The Port of Savannah, the second-busiest port on the East Coast, recorded its all-time record in May as strong consumer demand and shifting trade flows continue drive cargo volumes at…
https://gcaptain.com/port-of-savannah-sets-all-time-record-in-may-as-cargo-surge-continues/
The U.S. House of Representatives has voted 369 to 42 to pass the Senate’s version of the bipartisan Ocean Shipping Reform Act, designed to give the government’s shipping competition commission…
https://gcaptain.com/ocean-shipping-reform-act-headed-to-president-biden-desk-after-passing-house/
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.
The U.S. Federal Maritime Commission has had unprecedented support from Congress and the White House for holding the container shipping industry accountable to its customers, but the agency’s top official says more oversight is needed.
Speaking at the National Industrial Transportation League’s (NITL) Transportation Summit on Thursday, FMC Chairman Daniel Maffei acknowledged he may have been too optimistic about the ocean carriers’ ability to self-regulate, particularly as it relates to late...
As the U.S. Chamber of Commerce’s expert on supply chain and customs-related issues, John Drake recently added two related policy areas — transportation and infrastructure — to his portfolio that are also major priorities for his members.
In his new role as the vice president of transportation, infrastructure and supply chain policy, Drake is tasked with leading the Chamber’s advocacy on all those issues on Capitol Hill and within the administration.
Given his promotion earlier this month, we...
Transportation Secretary Pete Buttigieg on Tuesday deflected attempts to blame the Biden administration for soaring inflation while acknowledging that supply chain turmoil and high gas prices are major factors contributing to the problem.
Testifying at a Senate Commerce Committee hearing to defend the Department of Transportation’s $142 billion 2023 budget — a 60% increase over the Trump administration’s last DOT budget request — Buttigieg said his department is taking responsibility for “doing...
https://www.freightwaves.com/news/buttigieg-defends-administration-efforts-to-ease-inflation
The bipartisan Ocean Shipping Reform Act, cosponsored by U.S. Senators Amy Klobuchar (D.-Minn.,) and John Thune (R.-S.D.) has passed the Senate by a voice vote.
The legislation aims to help fix supply chains and ease shipping backlogs.
“Congestion at ports and increased shipping costs pose unique challenges for U.S. exporters, who have seen the price of shipping containers increase four-fold in just two years, raising costs for consumers and hurting our businesses,” said Klobuchar. “Meanwhile,...
https://www.marinelog.com/legal-safety/legislation/ocean-shipping-reform-act-passes-senate/