All on Board: The Biden Administration, FMC and DOJ Focus on Ocean Shipping, Prices and Supply Chain
Ocean shipping remains center stage as the Biden Administration continues to focus on the supply chain and related costs. On February 28, 2022, the Biden Administration issued a Fact Sheet entitled "Lowering Prices and Leveling the Playing Field" summarizing the Administration's current view on the ocean freight transportation system.
The Fact Sheet discussed the Department of Justice (DOJ) and the Federal Maritime Commission's (FMC) joint initiative to promote competition in the ocean freight transportation system, as a mechanism to reduce consumer prices.
The Fact Sheet was issued shortly after the FMC announced an Advance Notice of Proposed Rulemaking to potentially change regulations concerning detention and demurrage billing practices. The FMC and DOJ have announced a joint initiative to examine antitrust and competition issues in the shipping industry.