Retailers Welcome Key Supply Chain Legislation
Ocean Shipping Reforms Will Help Ease Disruption
- By [ Jess Dankert ]
- Washington, DC
- 03/31/2022
“The Ocean Shipping Reform Act of 2021 is key to addressing long-standing issues in the maritime shipping industry, which have only been exacerbated by the pandemic. Many factors contribute to today’s global supply chain disruption, but the lack of oversight or shipper protections as ocean carriers overlook service requirements in favor of soaring rates and punitive fees, has been particularly challenging for retailers.
“This legislation will bolster the Federal Maritime Commission’s work providing oversight of ocean carriers and carrier alliances—sending the message that fair and open supply chains are essential to the American economy. This is an important component to untangle supply chain congestion and remove barriers to the movement of goods.
“Consolidation in the ocean shipping industry and carrier alliances has hampered competition, tightened capacity, and helped drive prices to record highs. This act will ensure that American businesses have fair access to ocean shipping capacity, and protection from unreasonable fees and retaliatory measures.
“We applaud the Senate for passing this important legislation look forward to seeing this legislation continue to advance through Congress and be signed into law by the president.”
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Tags
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Public Policy
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Supply Chain
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Transportation and Infrastructure
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International Trade
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Supporting Free Markets and Fostering Innovation
