Biden Blasts Ocean Carriers as Congress Readies Tougher Shipping Regulations

U.S. lawmakers are preparing to toughen oversight of international shipping companies as the White House and American importers and exporters say historically high freight transportation costs are hampering business and contributing to accelerating inflation.

House Democratic leaders say they plan next week to take up a measure already passed by the Senate that would add new regulatory constraints to shipping operations and limit the ability of ocean carriers to levy the special fees that shipping customers say are driving up costs.

The bill would make it tougher for the shipping lines to refuse export cargoes, a practice that has grown over the past two years as carriers have sought to turn around empty containers quickly to return them to Asia and take advantage of high prices for Asian exports. It would also boost the workforce at the Federal Maritime Commission, the main U.S. shipping regulator. Read more