For hundreds of years, the ocean carriers have held the cards, but 2022 may just be the year to balance the scales. So far this year, we have seen the passage of the Ocean Shipping Reform Act (OSRA) by the US Congress, the passage of AB2406 by the California legislature, the assessment of fines by the Federal Maritime Commission (FMC) upon the ocean carriers for unfair business practices, and up next the contemplation by the FMC to declare an emergency order to share data among industry stakeholders as well as define what is considered unreasonable rejection of export cargo.
TARIFFS & TAXES
The Trump Administration is in rapid-fire mode. For our industry, it is a mixed bag. On the plus side, we have changes at the Environmental Protection Agency (EPA) and a push by the Administration to have Congress review the EPA's Phase 3 Greenhouse Gas (GHG3)...