Ocean Shipping Reform Act updates U.S. shipping law

Published On: June 23, 2022Categories: Industry News, News

The U.S. House of Representatives recently passed the first major update to U.S. international ocean-shipping laws in more than two decades. The Senate passed the shipping reform bill earlier this year, and President Biden is expected to sign the measure into law in the coming days.

Bipartisan legislation, the Ocean Shipping Reform Act of 2022 (OSRA) (S.3580), introduced by Senator Amy Klobuchar (D-MN) and Senator John Thune (R-SD), is intended to be the first step toward longer-term reform to shipping laws that would strengthen America’s global competitiveness and lower costs for American consumers.

OSRA updates are aimed at alleviating longstanding, systemic supply chain and port distribution issues. Among the provisions, the bill would stop international ocean carriers from unreasonably declining American cargo and prevent retaliation by international shipping companies against exports and importers.