The Ocean Shipping Reform Act has been signed into law: so, now what?

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

The Ocean Shipping Reform Act of 2022 was signed into law by President Joe Biden last Thursday. The law proposed changes to the ocean shipping industry meant to alleviate the consistent port congestion, delays, and rising costs that have riddled the industry for two years now.

The bill is also meant to better combat consumer price inflation which achieved a 40-year high this month. The legislation has been celebrated by many shippers who hope to see progress in supply chain disruptions.

Read more from Supply Chain Dive ▶

You also might like...
Canadian Rail Unions Prepare for Potential Strike and Lockout
Canadian Rail Unions Prepare for Potential Strike and Lockout

The Teamsters Canada Rail Conference (TCRC) has issued a 72-hour strike notice to Canadian Pacific Kansas City (CPKC), planning to strike on August 22 if no labor agreement is reached.

Read More →
Security Tightens Around Netanyahu's Controversial Visit
Security Tightens Around Netanyahu's Controversial Visit

The iconic Watergate Hotel in Washington turned into a high-security zone for Israeli Prime Minister Benjamin Netanyahu’s visit, but it didn’t stop protesters from causing a stir.

Read More →
Argentina's Vaca Muerta Shale Set for Major Export Boost
Argentina's Vaca Muerta Shale Set for Major Export Boost

Argentina is gearing up to connect its Vaca Muerta shale play with the Punta Colorada port through a new pipeline, enabling supertankers to load crude oil.

Read More →
Shipping Costs Soar: What's Going On?
Shipping Costs Soar: What's Going On?

Shipping a 40-foot container from Shanghai to New York now costs nearly $10,000, causing frustration among importers and talk of a market bubble.

Read More →
Wildfires Disrupt Oil Sands Operations in Alberta
Wildfires Disrupt Oil Sands Operations in Alberta

Wildfires in northern Alberta are causing some oil sands operations to take precautions.

Read More →
Ceasefire Talks Impact Container Futures
Ceasefire Talks Impact Container Futures

Reports of a potential ceasefire between Israel and Hamas have shaken the shipping industry, leading to a drop in container futures indices.

Read More →
Urgent Reforms Needed in Luxury Fashion's Supply Chain
Urgent Reforms Needed in Luxury Fashion's Supply Chain

A recent judicial move in Milan has put a spotlight on some serious ethical issues in the luxury fashion industry.

Read More →
Surge in Shipping Charter Rates Amidst Global Logistics Challenges
Surge in Shipping Charter Rates Amidst Global Logistics Challenges

In recent times, the demand for ships has skyrocketed, pushing charter rates to unprecedented levels.

Read More →
Elon Musk Criticizes US Tariffs on Chinese Electric Vehicles
Elon Musk Criticizes US Tariffs on Chinese Electric Vehicles

Elon Musk has recently spoken out against US government tariffs on Chinese electric vehicles, calling them “not good” and market-distorting.

Read More →
Gen Z Flocks to An Unexpected Destination… North Dakota
Gen Z Flocks to An Unexpected Destination… North Dakota

One of America's least populous states, North Dakota, is becoming a surprising hotspot for young adults.

Read More →
Fast Fashion's Dirty Secrets And Why So Many Can't Quit
Fast Fashion's Dirty Secrets And Why So Many Can't Quit

A skit on "Saturday Night Live" recently spoofed fast fashion brands Shein and Temu, highlighting the industry's dark side.

Read More →
Shipping Container Crunch Underway As Rates Skyrocket
Shipping Container Crunch Underway As Rates Skyrocket

A perfect storm in global trade is causing a major shipping container shortage, leading to unexpected spikes in ocean freight rates.

Read More →
U.S. on Track for Rare Earth Supply Chain by 2027
U.S. on Track for Rare Earth Supply Chain by 2027

The U.S. is making solid progress towards establishing a domestic supply chain for rare earth elements by 2027, crucial for defense needs.

Read More →
Humanitarian Aid Reaches Gaza via Temporary U.S. Pier
Humanitarian Aid Reaches Gaza via Temporary U.S. Pier

On Friday, trucks carrying humanitarian aid began delivering much-needed supplies to Gaza using a temporary pier built by the U.S.

Read More →
House Passes Bill to Expedite Weapons to Israel
House Passes Bill to Expedite Weapons to Israel

The Republican-led U.S. House of Representatives passed the Israel Security Assistance Support Act on Thursday, pushing President Biden to send weapons to Israel more quickly.

Read More →
Panama's New President-Elect Gathers Pro-Business Team
Panama's New President-Elect Gathers Pro-Business Team

Panama's President-elect Jose Raul Mulino has announced his first cabinet selections, emphasizing a pro-business approach.

Read More →
Chinese Hacking Targets European Cargo Shipping
Chinese Hacking Targets European Cargo Shipping

A top cybersecurity firm, ESET, has uncovered Chinese hacking attempts in the European cargo shipping industry, marking the latest instance of China-aligned groups infiltrating Western economic infrastructure.

Read More →
UK Economy on the Rise With Strongest Growth in Nearly Three Years
UK Economy on the Rise With Strongest Growth in Nearly Three Years

The UK's economy experienced its strongest growth in almost three years, with a 0.6% expansion in the first quarter of 2024, according to the Office for National Statistics.

Read More →
New Panamanian President-Elect Plans to Boost Canal Resilience and Tourism
New Panamanian President-Elect Plans to Boost Canal Resilience and Tourism

Panama's incoming president, Jose Raul Mulino, intends to tackle the challenges facing the Panama Canal, which is grappling with an unprecedented drought.

Read More →
U.S. Warns of Economic Impact if Taiwan Chip Production Is Disrupted
U.S. Warns of Economic Impact if Taiwan Chip Production Is Disrupted

Commerce Secretary Gina Raimondo emphasized that a potential Chinese invasion of Taiwan and the takeover of chip manufacturer TSMC would be catastrophic for the U.S. economy.

Read More →
South Korea Welcomes U.S. Extension on EV Tax Credits
South Korea Welcomes U.S. Extension on EV Tax Credits

South Korea has welcomed the U.S. decision to extend electric vehicle tax credits for cars containing Chinese graphite until 2026.

Read More →
Navigating Geopolitical Challenges in Global Supply Chain Management
Navigating Geopolitical Challenges in Global Supply Chain Management

In a recent column in Supply Chain Management Review, a story surfaced about how a LAN transformer led to thousands of Audi, Bentley, and Porsche vehicles being stuck at U.S. ports, potentially breaching the U.S. Uyghur Forced Labor Prevention Act.

Read More →
U.S. Moves to Ban Russian Uranium Imports
U.S. Moves to Ban Russian Uranium Imports

In a bid to further pressure Russia over its war in Ukraine, the U.S. Senate has unanimously passed a bill to prohibit Russian uranium imports.

Read More →
Baltimore Files Legal Claims Against Cargo Ship Owners for Bridge Collapse
Baltimore Files Legal Claims Against Cargo Ship Owners for Bridge Collapse

The City of Baltimore is holding the owner and manager of the cargo ship responsible for the tragic collapse of the Francis Scott Key Bridge last month.

Read More →
Biden Proposes Tripling Tariffs on Chinese Steel and Aluminum Imports
Biden Proposes Tripling Tariffs on Chinese Steel and Aluminum Imports

President Joe Biden is advocating for a significant increase in tariffs on Chinese steel and aluminum imports, proposing to triple the current rates.

Read More →
March Performance Reflects Continued Challenges for Freight Industry
March Performance Reflects Continued Challenges for Freight Industry

In March, the freight sector didn't quite hit the usual spring upswing, with the Cass Freight Index reporting that both shipments and expenditures mostly mirrored February's figures, falling short of typical seasonal patterns.

Read More →
Panama Canal Is On the Road to Recovery After Dry Season
Panama Canal Is On the Road to Recovery After Dry Season

After a challenging six months marked by the driest October in 73 years, the Panama Canal is finally seeing a turnaround.

Read More →
The Fallout from Baltimore's Key Bridge Collapse Leaves Implications for Dockworkers
The Fallout from Baltimore's Key Bridge Collapse Leaves Implications for Dockworkers

Last month, a major incident occurred when Baltimore's Key Bridge, a crucial artery for transit and shipping, was struck by a cargo ship and collapsed.

Read More →
TSMC's Strategic Expansion into the U.S. Market
TSMC's Strategic Expansion into the U.S. Market

Taiwan Semiconductor Manufacturing Company (TSMC) is making a significant move by bringing its most advanced technology to America, aligning with U.S. President Joe Biden’s goals for a secure tech supply chain.

Read More →
The Big Shift in U.S. Imports: More Containers, Higher Prices
The Big Shift in U.S. Imports: More Containers, Higher Prices

Here’s a quick rundown on the latest U.S. import scene: Inflation’s not the only thing on the rise – we’re seeing a significant increase in imports from China, especially after their factories reopened post-Lunar New Year.

Read More →
Jennifer Joslyn
Previous

U.S. fuel stockpile growth slows as Gulf Coast exports surge
Next

Cargo theft rising as congestion leaves containers “sitting around”