Saturday, June 18, 2022

What is Ocean shipping reform act.

 What is Ocean shipping reform act.

  • Ocean shipping reform act is act which will allow federal maritime commission set aside or made special bill for fiscal years 2022 through 2025

  • It establishes additional requirement and prohibit and control any acts made by ocean carriers.

  • Requires commission to issue rules related to specific fees assessments prohibited practices and setting up the shipping registry.

  • Authorizes the FMC under certain circumstances to issue an emergency order requiring common carrier to share information with exporters and multimodal transport authorities. 

the bill also adds provision related to shipping policies and design to support growth and development of US exports and inversely promote trade.

The act was passed in house on 13th of June 2022.