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Ocean Shipping Reform Act of 2022 aimed at boosting competition in shipping sector signed into law by US President Biden

( June 16, 2022, 15:02 GMT | Official Statement) -- MLex Summary: US President Joe Biden signed into law the Ocean Shipping Reform Act of 2022. The legislation, S. 3580, would crack down on skyrocketing ocean shipping costs and ease supply chain backlogs that are raising prices for consumers and making it harder for US farmers and exporters to get their goods to the global market. The law aims to "promote the growth and development of United States exports through a competitive and efficient system" of transport and seeks to place a greater reliance on the marketplace.Statement and document follow below:...

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