For the first time since 1998, the regulations governing U.S. container trades have received an overhaul. With an overwhelming approval of 369-42, the U.S. House of Representatives passed the Ocean Shipping Reform Act (OSRA) of 2022, which President Biden is expected to sign soon. TA President and CEO, Chris Spear, said that the Federal Maritime Commission will now be able to address unjustified and illegal fees charged to truckers by ocean carriers. According to Spear, “Those fees hurt American motor carriers and consumers – helping to drive record inflation.” Officials are hopeful that the bill with provide a much needed update to alleviate some of the stressors already impacting supply chains. An article published by American Shipper reports further on the bill and initial reactions from carriers as well as shipping companies.
To read the article, click here.