How OSRA 22 Plans to Reform Maritime Practices

Maritime Reform OSRA 22 - The Chemical Company

The Ocean Shipping Reform Act of 2022 (OSRA 22) was introduced this past June in attempts to address major concerns regarding unfair ocean freight practices. This is the first major revision of US maritime regulatory statuses since 1998. The OSRA 22 responds to complaints from US importers, exporters, and other interests who have experienced disruptions and spikes in international shipping since the beginning of the pandemic in 2020. OSRA 22 grants the Federal Maritime Commission (FMC) to assert regulatory oversight of ocean carrier practices affecting consumers of international ocean carrier services. In particular, the legislation addresses the perception from US importers and exporters that international ocean carriers have discriminated against US-origin cargoes in terms of rate practices, equipment availability, and penalty charges (i.e. detention and demurrage charges). An article published by Thompson Coburn LLP addresses the common struggles faced by US ports before the induction of OSRA 22, as well as outline the concerns it attempts to address.

To read the article, click here.

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