On Thursday, June 16, 2022, the 46th President of the United States, Joseph Biden, signed into law S. 3580, the Ocean Shipping Reform Act of 2022 (hereinafter OSRA 2022). The OSRA 2022 legislation has caused a stir in the container shipping industry. After reviewing the content of the document, experts from the cargo analytical and .
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By Nick Savvides (The Loadstar) – An Illinois shipper is suing Taiwanese operator Yang Ming and South Korean carrier HMM, claiming they benefited from failing to meet contractual obligations and colluding.
US President Joe Biden on Thursday signed legislation aimed at cutting overseas shipping prices, calling the new law another move by his administration to curb stubborn inflation.
The law would stop “shipping companies taking advantage of American families, farmers, ranchers and businesses,” the president said at a signing ceremony for the broadly bipartisan measure an indication of the White House’s urgency to show voters it is trying to bring down price increases stuck at a four-decade high.
“They raked in the profits and the costs got passed on, as you might guess, directly to consumers,” he added. “Sticking it to American