US President Joe biden has called on Congress to crack down on ocean carriers who he feels are responsible for raising shipping costs, reports Ventura, California's gCaptain.
'One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000 per cent. It's outrageous - and I'm calling on Congress to crack down on them,' said Mr Biden.
'We've got to change this. I asked the Congress to pass a piece of legislation to remedy this,' said Mr Biden.
'Democrats and Republicans voted for it, it's over in the House of Representatives. I expect it to be voted on fairly shortly, and I expect it to pass,' said Mr Biden.
'And I'm looking forward to signing it because we've got to bring down prices. The underlying elements of our economy are incredibly strong, stronger than any other nation in the world. But inflation is a problem. This won't solve it all, but it will solve a big piece of it.'
The legislation Mr Biden is referring to is the Ocean Shipping Reform Act, which unanimously passed the US Senate in late March.
The bill provides the Federal Maritime Commission (FMC) with greater authority and rulemaking ability over international ocean shipping companies, such as detention and demurrage fees and services offered.
The bill was introduced in the Senate in February by Minnesota Democratic Senator Amy Klobuchar, who declared the bill will 'level the playing field for American exporters by making it harder for ocean carriers to unreasonably refuse goods ready to export at ports.'
However, the World Shipping Council (WSC) declared the bill doesn't address the root causes of landside congestion that have contributed to shipping logjams at US ports.
'Instead of passing legislation that would do nothing to address the nation's supply chain congestion, Congress should seek real solutions that take a comprehensive, forward-looking view,' said the WSC.
'That means continued investment in port infrastructure and promoting communication, innovation, and collaboration across sectors to further strengthen the intermodal transportation system that has supported the US economy throughout the pandemic.'
SeaNews Turkey
'One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000 per cent. It's outrageous - and I'm calling on Congress to crack down on them,' said Mr Biden.
'We've got to change this. I asked the Congress to pass a piece of legislation to remedy this,' said Mr Biden.
'Democrats and Republicans voted for it, it's over in the House of Representatives. I expect it to be voted on fairly shortly, and I expect it to pass,' said Mr Biden.
'And I'm looking forward to signing it because we've got to bring down prices. The underlying elements of our economy are incredibly strong, stronger than any other nation in the world. But inflation is a problem. This won't solve it all, but it will solve a big piece of it.'
The legislation Mr Biden is referring to is the Ocean Shipping Reform Act, which unanimously passed the US Senate in late March.
The bill provides the Federal Maritime Commission (FMC) with greater authority and rulemaking ability over international ocean shipping companies, such as detention and demurrage fees and services offered.
The bill was introduced in the Senate in February by Minnesota Democratic Senator Amy Klobuchar, who declared the bill will 'level the playing field for American exporters by making it harder for ocean carriers to unreasonably refuse goods ready to export at ports.'
However, the World Shipping Council (WSC) declared the bill doesn't address the root causes of landside congestion that have contributed to shipping logjams at US ports.
'Instead of passing legislation that would do nothing to address the nation's supply chain congestion, Congress should seek real solutions that take a comprehensive, forward-looking view,' said the WSC.
'That means continued investment in port infrastructure and promoting communication, innovation, and collaboration across sectors to further strengthen the intermodal transportation system that has supported the US economy throughout the pandemic.'
SeaNews Turkey
