OSRA S3580 Goes to the President for Signature 6132022

NITL commends Congress for its prompt action in passing the Ocean Shipping Reform Act (OSRA) which will modernize our federal shipping law to address disruption to US companies’ supply chains that depend on competitive and efficient international ocean transportation services.  NITL greatly appreciates the leadership of Congressmen John Garamendi and Dusty Johnson and Senators Klobuchar and Thune in spearheading the development of OSRA’s reforms.  Under OSRA, the FMC will have better tools at its disposal to address global ocean carriers’ operating practices which have contributed to high inflation and supply chain disruptions experienced by NITL members and their customers.  Specifically, OSRA seeks to address the challenges faced by importers and exporters in securing timely and adequate vessel space to deliver their goods to overseas markets, to obtain raw materials needed for manufacturing, and to stock retail store shelves, as well as rising costs for port and other delays that are beyond their control.

NITL was thrilled to have worked with the Congress and its industry partners in the development and passage of OSRA and looks forward to working with the FMC and all stakeholders on implementing OSRA’s reforms.

The Ocean Shipping Reform Act will:

  • Prohibit ocean carriers from unreasonably refusing cargo space accommodations for U.S. exports and from discriminating against U.S. exporters.
  • Promote transparency by requiring ocean common carriers to report to the FMC each calendar quarter on total import/export tonnage and twenty-foot equivalent units (loaded/empty) per vessel that makes port in the United States.
  • Authorize the FMC to self-initiate investigations of ocean common carrier’s business practices and apply enforcement measures, as appropriate; and
  • Establish new authority for the FMC to register shipping exchanges to improve the negotiation of service contracts.

Click here to read the press release.