U.S. House Approves Oversight of Ocean Shipping to Combat Inflation and Backlogs
The bill would boost the investigatory authority of the Federal Maritime Commission (FMC) and increase industry transparency.
Edited by Margo Ellis
Share
.jpg;maxWidth=385)
The U.S. House of Representatives approved legislation Monday to improve oversight of ocean shipping, which supporters say will help curb inflation and ease export backlogs.
The bill was approved 369-42 and will head to the White House for President Joe Biden's signature. Biden said in a statement he looked forward to signing it into law.
It would allow FMC to launch probes of ocean common carriers' business practices and to apply enforcement measures, require ocean common carriers to report to the FMC "total import/export tonnage" each calendar quarter and would bar ocean carriers from unreasonably declining opportunities for U.S. exports under new rules to be determined by the FMC.
Read here for the complete story from Yahoo! News.
RELATED CONTENT
-
Erosive Pulp & Paper Systems Require Proper Valve Selection
As new recycled paper plants are being built for the first time in decades, not only do paper companies have opportunities to grow revenue but so do service suppliers such as valve companies.
-
The Biggest Valves: Sizes Growing in Step with Greater Demand
Valve manufacturers that have the expertise, skills, equipment and facilities to produce large valves are rare.
-
Crane ChemPharma and Energy Announces New Saunders Valves Facility
The 100,000-sq-ft facility is planned to open in the fall of 2022.
 Unloading large gate valve.jpg;maxWidth=214)
