The Federal Maritime Commission Newsroom

News

FMC Issues Interim Status Report on New Shipping Law

June 22, 2000



News
Federal Maritime

Commission

Washington, D.C. 20573

FMC ISSUES INTERIM

STATUS REPORT ON

NEW SHIPPING LAW

NR 00-11

CONTACT: Florence A. Carr, Deputy Executive Director, at (202) 523-5800

FOR RELEASE: June 22, 2000



The Federal Maritime Commission today issued an interim status report which discusses the first year of operations under the Ocean Shipping Reform Act of 1998 ("OSRA"). The purpose of the report is to explain how the industry has been adapting to the statutory and regulatory changes brought about by OSRA. It generally describes recent trends in liner shipping, highlights OSRA's most prominent provisions, and furnishes details on service contracting, carrier use of antitrust immunity, tariff publishing, and the activities of ocean transportation intermediaries.

In announcing issuance of the report, Commission Chairman Harold J. Creel, Jr., stated:  "We at the Commission believed that it was important to look at the industry one year after enactment of this major legislation. While our status report recognizes that it is too early to draw definitive, long-term conclusions, it does provide preliminary views on the short-term effects OSRA has had on U.S. ocean shipping." Mr. Creel indicated that the Commission is preparing a more comprehensive report, which will cover two years' experience under OSRA. That report is scheduled for issuance in the summer of 2001.

The OSRA Interim Status Report can be viewed by visiting the Commission's Internet website at www.fmc.gov.