Finally, the politicians in Washington managed to cease their pointless arguing (for the time being) to work together on an important bill for the American people. And that bill will directly help the US container shipping industry.
Both political parties recently in the US Senate and the US House of Representatives have agreed to the Water Resources Reform and Development Act. Freight forwarders everywhere believe that this is fantastic news. Essentially, this bill will make the US ports deeper in anticipation of the Panama Canal expansion. When the expansion of Panama Canal occurs, larger vessels holding more cargo will want to go to the US and our ports need to be able to hold these larger ships. The Water Resources Reform and Development Act funds projects that will get the ports ready for the larger ships. This is the first water bill passed by Congress since 2007.
The debate regarding the Water Resources Reform and Development Act has been ongoing for months now. The bill will help cut down on the time it takes for ships to dock at the port. The Water Resources Reform and Development Act funds about $8.2 billion worth of improvement projects. Non-federal groups can also provide funding as well. The result of the Water Resources Reform and Development Act will be more jobs and a better US economy. The projects will also help with flood control.
This great news should be helpful to all of those shippers in the US that depend on ocean cargo shipping.
