News / President Biden signs OSRA 2022 into law

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President Joe Biden signed the Ocean Shipping Reform Act (OSRA) 2022 into law yesterday to praise from shippers and opprobrium from shipping lines.

The White House announced that Mr Biden’s signature meant the Federal Maritime Commission (FMC) could issue new rules “related to certain fee assessments, prohibited practices”.

In addition, OSRA will establish a shipping registry while also authorising the FMC, in certain circumstances, to issue emergency orders that require shipping lines to share information with other stakeholders including shippers, railways and ...