Kay Bailey Hutchison: “American ports and carriers and shippers are disadvantaged by current laws that require all contracts to be public. To…”

“American ports and carriers and shippers are disadvantaged by current laws that require all contracts to be public. To avoid publication, U.S. ports are bypassed when possible and the U.S. carriers lose business. U.S. exporters, unlike their foreign competitors, must reveal their ocean transportation costs, permitting the foreign competition to undercut them. Recent economic problems in Asia will increase pressure in those countries to increase their exports. S. 414 will be even more important if our shippers meet the heightened competitive challenge. S. 414 attempts to level the playing field between U.S. companies which export and their foreign competitors. This bill will encourage greater competition among carriers. It will provide American exporters and importers with greater choice in obtaining ocean transportation services and promote more ocean shipping activity for our carriers and our ports. In providing our shippers with this important reform, we have still attempted to preserve antidiscrimination provisions in current law and the elements of our current "transparent" system that protect our ports, smaller shippers, and U.S. workers. This bill balances the need to have enough transparency to assure fair pricing with contract privacy. Ninety-five percent of U.S. foreign commerce is transported via ocean shipping.”