Update as of 6/16/22:

This afternoon, President Biden signed the Ocean Shipping Reform Act of 2022 (OSRA 22) into law.

Per our initial ShapFlash, the US House of Representatives passed the Senate version of the Ocean Shipping Reform Act of 2022 (OSRA 22) by a vote of 369-42.

As always, Shapiro will continue to monitor the situation and provide updates as they become available.

Original Flash— Published 6/14/22:

On Monday, June 13th, the US House of Representatives voted to pass the Senate’s version of the Ocean Shipping Reform Act.

On Monday, June 13th, the US House of Representatives voted to pass the Senate’s version of the Ocean Shipping Reform Act 369-42.

This new legislation will allow lawmakers to:

  • Reduce supply chain congestion;
  • Penalize unfair carrier practices;
  • Provide better aid to agricultural exporters; and
  • Address various issues regarding freight delivery systems.

The bill now awaits final signature from President Joe Biden.

Click here to read the official White House Statement.

Shapiro is closely monitoring the situation and will provide status updates as they become available.