Members of the U.S. Congress are preparing to strengthen regulation of international shipping companies

Members of Congress are preparing to tighten regulation of international shipping companies, with the White House and importers and exporters of U.S. arguing that high freight costs are hampering business, pushing up costs and fueling inflation, according to media reports on last Saturday. Democratic leaders in the House of Representatives said they plan to adopt a measure already passed by the Senate next week to strengthen regulatory restrictions on shipping operations and limit the ability of shipping companies to impose special fees. The bill, known as the Ocean Shipping Reform Act, was passed by an oral vote in the Senate in March. The bill passed by Congress has been the largest reform of shipping rules since 1998. The World Shipping Council said it would not comment on the bill until Congress passed it. Stay tuned!