Industry News Suppliers

Ocean Shipping Reform Act Could Bring Relief

Order Reprints
Shipping-Pexels.jpg

The Ocean Shipping Reform Act is designed to crack down on shipping costs.

| Photo Credit: Pexels

The new Ocean Shipping Reform Act could provide some much-needed relief for tire dealers who sell products that are made overseas, as well as U.S.-based exporters.

The law, which was signed on June 16 by President Joe Biden, is designed to "crack down on skyrocketing international ocean shipping costs and ease supply chain backlogs," according to a recent statement issued by the U.S. Senate.

It also is intended to provide the Federal Maritime Commission with "the tools it needs for effective oversight of international ocean carriers. These oversight and enforcement tools will help the FMC eliminate unfair charges," plus other practices that are "harming American businesses and consumers," including exporters.

For more information, click here.

Related Articles

How COVID-19 Lockdowns in China Could Impact Shipping

How the Russia-Ukraine War Could Impact Shipping

You must login or register in order to post a comment.