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Code · BILL · 117th Congress · S. 3580 (Reported in Senate) — To amend title 46, United States Code, with respect to prohibited acts by ocean common carriers or marine terminal op... · Sec. 4

Sec. 4. Shipping exchange registry

324 words·~1 min read·/bill/117/s/3580/rs/section-4·

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Chapter 405 of title 46, United States Code, is amended by adding at the end the following: No person may operate a shipping exchange involving ocean transportation in the foreign commerce of the United States unless the shipping exchange is registered as a national shipping exchange under the terms and conditions provided in this section and the regulations issued pursuant to this section. A person shall register a shipping exchange by filing with the Federal Maritime Commission (referred to in this section as the Commission ) an application for registration in such form as the Commission, by rule, may prescribe containing the rules of the exchange and such other information and documents as the Commission, by rule, may prescribe as necessary or appropriate in the public interest.
The Commission may exempt, conditionally or unconditionally, a shipping exchange from registration under this section if the Commission finds that the shipping exchange is subject to comparable, comprehensive supervision and regulation by the appropriate governmental authorities in a foreign country where the shipping exchange is headquartered. Not later than 3 years after the date of enactment of the Ocean Shipping Reform Act of 2022 , the Commission shall issue regulations pursuant to subsection (a), which shall set standards necessary to carry out subtitle IV of this title for registered national shipping exchanges, including the minimum requirements for service contracts established under section 40502 of this title.
In this section, the term shipping exchange means a service or platform for shippers to communicate freight traffic and capacity information to common carriers. . The registration requirement under section 40504 of title 46, United States Code (as added by subsection (a)), shall take effect on the date on which the Federal Maritime Commission states the rule is effective in the regulations issued under such section. The analysis for chapter 405 of title 46, United States Code, is amended by adding at the end the following: 40504.
Shipping exchange registry. .
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