PIXABAY

Jun 20, 2022

Biden Signs Shipping Reform Act to Ease Export Backlogs

Bipartisan legislation designed to improve ocean shipping oversight to curb inflation

On June 16, President Joe Biden signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs.

The bipartisan Ocean Shipping Reform Act of 2022 (S. 3580) passed the U.S. House of Representatives on a 369-42 vote earlier in the week.

In a statement after the act was passed by the U.S. house, Biden said the Ocean Shipping Reform Act would help lower costs for American retailers, farmers and consumers.

“During the pandemic, ocean carriers increased their prices by as much as 1,000%. And, too often, these ocean carriers are refusing to take American exports back to Asia, leaving with empty containers instead. That’s costing farmers and ranchers – and our economy – a lot of money,” Biden said.

“This bill will make progress reducing costs for families and ensuring fair treatment for American businesses – including farmers and ranchers.”

What's in the new law?

The new law increases the authority of the Federal Maritime Commission (FMC) to promote the growth and development of U.S. exports.

It requires the FMC to investigate complaints about late fees charged by ocean carriers to determine whether those charges are reasonable, and order refunds for unreasonable charges.

It also prohibits common ocean carriers, marine terminal operators, or ocean transportation intermediaries from unreasonably refusing cargo space when available or resorting to other unfair or unjust discriminatory methods.

Feed & Grain Staff

Recently Added to Buyer's Guide

C-LEVER EVA HE Controller

  • For bulk solids, accuracy is not impacted by different material densities, irregular material flows or extreme friction
  • All connections available (Ethernet, Profibus, CANbus, etc.) as standard equipment to easily connect/coordinate with existing systems

SORTEX H SpectraVision

  • Real-time tracking of sorting performance and emergency warnings with SORTEX Monitoring System
  • Newly designed in-house full-color cameras provide best color differentiation for subtlest of color defects

Feed Ordering Hub

  • Cloud-based hub designed to increase feed ordering and scheduling automation
  • Allows feed mills to make data-driven decisions and allocate resources better

24" Scalperators

  • Provides high capacity method for removing roughage, light fines and chaff in a single pass
  • Large material scalping and air density separation in one pass

Aqua MicroFeed System

  • Enables users to produce microfeed at 40% increased capacity
  • Optimized die can withstand higher pressure caused by smaller holes due to stronger construction, larger diameter and bigger open surface, and smart die base to create equal distribution of feed toward larger die

Metris Vibe

  • Wireless vibration and temperature sensor can monitor health status of mechanical equipment regardless of original manufacturer
  • Offers increased uptime, reduced maintenance, higher production reliability and improved safety

Magazine

Marketwatch: Jun, 28

US Corn Price Idx: ZCPAUS.CM

open: 7.456
high: 7.4914
low: 7.3203
close: 7.4232

US Soybean Price Idx: ZSPAUS.CM

open: 15.6145
high: 15.7047
low: 15.4076
close: 15.6277

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 9.5445
high: 9.5852
low: 9.2713
close: 9.2769

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 8.7281
high: 8.7496
low: 8.4289
close: 8.4774