Ocean Shipping Reform Act

Power index: Top 10 regulatory/legislative stories of 2021

Amid the lingering effects of the COVID-19 pandemic on U.S. supply chains, 2021 has seen significant new laws and changes within the regulatory and legislative landscape affecting carriers and their customers. The following are what we consider the Top 10 stories — in no particular order — chronicling those changes and why they matter to freight markets.

Bipartisan infrastructure package

Summary: President Joe Biden signed into law the Bipartisan Infrastructure Bill — known formally as the...

https://www.freightwaves.com/news/power-index-top-10-regulatory-legislative-stories-of-2021

White House to ocean carriers: Take more ag exports … or else

A crane lifting containers from a vessel at a port.

The Biden administration on Friday again urged global ocean carriers to accept more export freight and restore service at underutilized West Coast ports to ease supply chain constraints and give U.S. agriculture companies a fair chance to sell their goods in overseas markets. The request signals that the White House will remain focused on trying to tighten regulation of the industry next year.

With eastbound transportation rates 10 times higher than pre-pandemic levels, vessel operators are...

https://www.freightwaves.com/news/white-house-to-ocean-carriers-please-take-more-exports-or-else

Will ocean reform actually happen? — Navigate B2B

Navigate B2B 11/20

The U.S. House of Representatives passed the Ocean Shipping Reform Act of 2021 by an overwhelming majority and now the Senate has to present its version of the bill. On this episode of Navigate B2B, Steve Ferreira explains what it could mean for the ocean sector. 

He also looks at what’s happening with Maersk, the fight to keep ocean contracts in place through the new year, and if rates will rise in the wake of Christmas. 

Ferreira discusses what he says is the third wave of Containergeddon and...

https://www.freightwaves.com/news/will-ocean-reform-actually-happen-navigate-b2b

Legislation to reform ocean shipping passes House

As frustration with port delays and supply chain disruption grows, so does dissatisfaction with the nine carriers and three alliances that dominate the global container shipping market.

Yesterday, the House of Representatives voted to pass the Ocean Shipping Reform Act (H.R.4996) by a bipartisan vote of 364-60. It now heads to the Senate for consideration.

Introduced by Congressman John Garamendi (D-Calif.) and Congressman Dusty Johnson (R-S.D.) the bill aims to make the Federal Maritime...

https://www.marinelog.com/legal-safety/shipping/legislation-to-reform-ocean-shipping-passes-house/

House passes bill expanding powers of maritime regulators

By a vote of 364 to 60, the U.S. House of Representatives overwhelmingly passed the Ocean Shipping Reform Act of 2021 (OSRA) on Wednesday. The bipartisan legislation moves to the U.S. Senate, where lawmakers are preparing a companion bill they say will be introduced soon.

Spearheaded by Rep. John Garamendi, D-Calif., and Dusty Johnson, R-S.D., the bill gives the Federal Maritime Commission the power to impose minimum requirements on ocean carrier service contracts, and shifts the burden of proof...

https://www.freightwaves.com/news/house-passes-bill-expanding-powers-of-maritime-regulators

Ocean shipping lobby grilled on carrier profits

After hearing testimony from fellow witnesses on how jammed supply chains and exorbitant shipping charges are hammering their businesses, World Shipping Council President and CEO John Butler was asked how some of his ocean carrier members can justify their best financial quarter in decades.

“The price situation right now is entirely unfamiliar to us,” Butler acknowledged during a Senate Commerce Committee hearing on Tuesday. “For the last 20 years, the ocean shipping business has been lucky to...

https://www.freightwaves.com/news/ocean-shipping-lobby-grilled-on-carrier-profits

What can Feds do to aid 24/7 supply chains?

In his speech on Wednesday announcing commitments made by the Port of Los Angeles and its major retailer customers to expand to 24/7 operations, President Biden emphasized that in order for the changes to work, terminal operators, railroads, trucking companies, container lines and other retailers had to coordinate.

And if players in the supply chain are unable or unwilling to cooperate, “we’re going to call them out and ask them to act,” Biden said, “because our goal is not only to get through...

https://www.freightwaves.com/news/what-can-government-do-to-aid-247-supply-chains

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