The first section of the act states that its official name is the "Ocean Shipping Reform Implementation Act of 2023."

Section 40101 of title 46 of the United States Code is updated to clarify the purposes related to the carriage of goods by water. Key changes include replacing specific terms to emphasize support for common carriage of goods in foreign commerce and adding a new goal to encourage reciprocal trade.

The section revises the definition of an "ocean common carrier" to include carriers owned, controlled by, or related to foreign corporations in specific countries identified as nonmarket economies, priority foreign countries, or those being monitored by the U.S. Trade Representative. Additionally, it updates a related provision in the law to streamline the language regarding controlled carriers.

The section modifies regulations related to shipping exchanges by allowing the Federal Maritime Commission to investigate complaints about market manipulation or anticompetitive practices. It also requires the Commission to report its findings to relevant Congressional committees.

A person can report to the Federal Maritime Commission if they suspect shipping exchanges of unfair practices. The Commission will then investigate these claims and report the findings to Congress if misconduct is discovered.

The section repeals a part of the United States Code, specifically section 40706 of title 46, and updates the chapter's table of contents to reflect this change.

The amendment to Section 41110 of title 46 requires the Federal Maritime Commission to produce a quarterly report and prohibits the duplication of data that is already reported to other federal agencies, such as the Corps of Engineers, U.S. Customs and Border Protection, or the Department of Commerce, unless the necessary data is not readily available.

The section outlines amendments to establish and redefine national advisory committees within the United States Code, including a National Port Advisory Committee and a National Ocean Carrier Advisory Committee, each with specified membership and expertise requirements. These committees are tasked with advising on policies related to the efficiency and competitiveness of the international ocean freight delivery system.

The National Port Advisory Committee is established to consist of 13 members with specialized knowledge in port-related functions. Its members include 5 representatives from marine terminal operators, 5 from port authorities, and 3 from longshore and maritime labor.

The section establishes a National Ocean Carrier Advisory Committee made up of nine members with expertise in ocean carrier operations, and these members are appointed by the Commission. The committee includes representatives from ocean carriers and requires that at least three members be ocean transportation intermediaries.

The section specifies that certain committees are responsible for advising the Federal Maritime Commission on how to improve the competitiveness, reliability, and efficiency of the international ocean freight delivery system.

The section outlines changes to a U.S. law concerning reports on foreign laws and trade practices related to shipping. It adds requirements for analyzing trade imbalances, disclosing information about marine terminal operators, and includes findings from a carrier audit program.

The Federal Maritime Commission is required to create a proposed rulemaking notice about price indexes for containerized ocean freight within a year of the Act's enactment, and then finalize the rule within three years.

The Federal Maritime Commission is tasked with creating a data standard for sharing logistics information about ships and cargo, involving consultation with various government boards and departments. This effort includes setting up protections for data, considering existing private sector standards, and allowing flexible control over information sharing, with the possibility of involving third-party organizations to help develop these standards.

The bill requires the Secretary of Transportation to arrange an independent study of the Shanghai Shipping Exchange's business practices, including any government influence or market manipulation issues, and the impact on U.S. consumers and businesses. The findings, to be reported within a year, will be made public and examined by entities such as federally funded research centers, the Transportation Research Board, or the Government Accountability Office.

The new section added to Chapter 503 of title 46, United States Code, prohibits certain entities from using logistics software associated with China or Chinese-related entities. This includes listing prohibited technologies and consulting with security commissions to ensure compliance, focusing on preventing software use that shares data with Chinese systems.

A covered entity, which is an organization that receives certain types of government funding, is prohibited from using specific logistics software linked to China. The U.S. Secretary of Transportation will maintain a list of banned logistics technologies and consult with relevant authorities to ensure it is up-to-date and accurate.

The section outlines several technical amendments to Title 46 of the United States Code, including updates to administration, investigations, and advisory committee structures, as well as clarifying language and adjusting the titles of certain chapters and sections to improve clarity and organization within the Code.