US passes shipping law – but does not target "outrageous" freight rates

US Congress has passed the shipping bill that gives FMC authority to control container carriers operating in the US. According to analyst Lars Jensen, the law does not target the high earnings and price settings of carriers that have been criticized.

Photo: Noah Berger/AP/Ritzau Scanpix

In order to reduce delays and congestion in US supply chains, Congress has just passed a shipping law strengthening the Federal Maritime Commission’s (FMC) ability to control and regulate carrier conduct.

The Ocean Shipping Reform Act (OSRA) now only needs a signature from US President Joe Biden, but following his most recent statements and overall stance in regards to the container carriers, the signature seems a mere matter of formality.

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