Two Minutes in Trade – Congress Passes Landmark Ocean Shipping Reform Act and President Signs Into Force

Last week the President signed into law the Ocean Shipping Reform Act (OSRA). The OSRA is the first major legislation related to the Shipping Act in 20 years. Among other things, the OSRA will help ensure that U.S. shippers are not charged unreasonable fees by carriers and that U.S. exporters will be granted access to cargo unless refusal is explicitly justified.