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Ocean Shipping Reform Act Awaits President’s Signature

Posted June 15, 2022
in Top Ag News

Grain Shipping TradeThe Ocean Shipping Reform Act (OSRA) heads to President Biden’s desk this week after an overwhelming pass of the Senate majority (369-42). The Senate version of the bill gives the Federal Maritime Commission more oversight of ocean shipping companies, an essential step to improving shipping services in the U.S.

Dan Halstrom, U.S. Meat Export Federation president and CEO, says the OSRA bill will help maximize the value of ag products. Dan states that incentivizing export logistics to be prioritized will lessen the number of empty shipping containers leaving U.S. ports that could be filled with ag products. It’s estimated that over $25 billion in ag exports were lost in the past six months due to ocean shipping constraints.

Read more on the Ocean Shipping Reform Act here.

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