US DEVELOPMENTS – AUGUST 2024
Attached at Annex A, please find the monthly report prepared by the Chamber of Shipping of America (CSA) for August 2024.
The report for Annex A:
1. The report outlines that the US National Maritime Strategy aims to revitalise the US flag fleet, shipbuilding industry, and maritime workforce through legislative support, incentives, and workforce development to ensure both economic competitiveness and military readiness;
2. Makes a note that the Justice for Victims of Foreign Vessel Accidents Act proposes increasing liability for non-US flagged vessels in US waters by up to 10 times the current cap, retroactively applied to incidents from March 25, 2024, a move opposed by CSA due to concerns over insurance availability and potential cost impacts;
3. Outlines that that any bill not passed by January 3, 2025, will be considered “dead” and must be reintroduced in the next Congress;
4. Notes that the US Coast Guard Authorization Act of 2024, the Ocean Shipping Reform Implementation Act of 2023, the Energizing American Shipbuilding Act of 2023, the Renewable Fuel for Ocean-Going Vessels Act, the American Port Access Privileges Act, the Clean Shipping Act of 2023, the International Maritime Pollution Accountability Act, the Ocean Shipping Antitrust Enforcement Act and the Stop Harboring Iranian Petroleum (SHIP) Act has not seen much movement over the last month;
5. And makes a note that the VIDA regulations, currently under final review by the Office of Management and Budget, are expected to be published in September 2024, but will not take effect until the US Coast Guard finalises its own rule, which could take up to two years.
The ICS Secretariat will monitor closely the issues outlined in the report above, and members are kindly invited to direct any comments or questions on the attached report to the Meme Lamlum ,Policy Officer meme.lamlum@ics-shipping.org).