EXEMPTIONS.

SEC. 114. EXEMPTIONS. Section 16 of the Shipping Act of 1984 (46 U.S.C. App. 1715) is amended by striking “substantially impair effective regulation by the Commission, be unjustly discriminatory, result in a substantial reduction in competition, or be detrimental to commerce.” and inserting “result in substantial reduction in competition or be detrimental to commerce.”.