US House of Representatives passed the Ocean Shipping Reform Act (OSRA) to reduce shipping cost

The U.S. House of Representatives passed the OSRA of 2022 by a 369-42 margin, which will be signed by President Biden into law and is the first revamping of U.S. ocean shipping laws since 1998.
The Ocean Shipping Reform Act of 2022 includes the prohibition of ocean carriers from unreasonably refusing cargo space capacities for U.S. exports and from discriminating against U.S. exporters.
The development of transparency by demanding ocean common carriers to report to the FMC each quarter on total import/export tonnage and twenty-foot equivalent units (loaded/empty) per vessel that builds port in the United States.
Authorizing FMC to voluntarily commence examinations of ocean common carrier’s business methods and use enforcement measures.
The establishment of new authority for the FMC to document shipping exchanges to improve the negotiation of service contracts with others.
During the pandemic, ocean carriers increased their prices by 1,000% often and refused to take American exports back to Asia, leaving them with empty containers.
This is costing farmers and ranchers and the economy huge money but this bill will reduce costs for families and ensure reasonable treatment for American businesses, including farmers and ranchers.

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