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Understanding the OSRA Act of 2022
Ocean Shipping Reform Act of 2022 (Public Law No: 117-146) was passed by US Congress and put into law by USA President Joe Biden in June of last year. This act may help many different parties and could help alleviate some of the stress and issues occurring with ocean freight shipments. The OSRA Act is allowing the Federal Maritime Commission (FMC) to be more in control than ever before. This commission has gained more control in the processes involving the fees occurred from ocean shipments such as demurrage fees. The FMC Commission will be able to look into these fees and decide if the party charging these fees is in the right. These fees could be proved accurate and fair where the fees would still have to be paid or they could be proved inaccurate or unfair, which would prompt a refund of the money that was received. This act also introduces that no one from the ocean freight industry can deny any of openings at freight yards where containers are held. Overall, this will make it far easier to book and move ocean freight.
Freight Forwarders, shippers, and customers may benefit from this act. The increased openings at freight yards may allow freight forwarders to have easier booking out of ports and get earlier bookings for shipments unlike before. Shippers may see more opportunities to move their freight outside of the US by limiting the hassle of long shipping delays, the possibility of fee repercussions, and/or paying a higher price for other methods of transportation. The OSRA Act may allow customers of ocean shipments to receive their goods from the US without having to wait long transit times. These changes may create a more competent and consistent logistics field allowing for a more accurate transit with less waiting periods between when goods are ready and the day the ocean shipment sails and more accurate data with far quicker updates.
Contributos: Victoria Tuson
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