Shipping Reform Act

The Shipping Reform Act

The US House of Representatives passed the Shipping Reform Act on June 13, local time, which aims to improve shipping oversight.

The legislation expands the authority of the FEDERAL Maritime Commission (FMC) to address unfair business practices by international container lines and terminal operators. Supporters of the bill say it will help curb inflation and ease export backlogs.

And the United States import retailers, agricultural exporters generally believe that the newly passed shipping reform bill can reduce transportation costs, and weaken the influence of shipping companies on the import and export market.

 

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