The bipartisan Ocean Shipping Reform Act of 2022 (OSRA) was introduced in Congress in February 2022 and was signed into law by President Biden on June 16, 2022. Although slightly over a year old, OSRA is now – and will continue – making an impact on the shipping industry. OSRA represents the most significant change in US shipping law since the Shipping Act was amended in 1998. Under OSRA, the Federal Maritime Commission (FMC) was granted new authority to regulate ocean carrier practices, and many of these changes have been implemented over the past year.
