Ocean Transportation Practices Act of 1987

(Reported to House from the Committee on Merchant Marine and Fisheries with amendment, H. Rept. 100-39)

Ocean Transportation Practices Act of 1987 - Directs the Federal Maritime Commission (the Commission) to investigate whether unfair practices are used that affect transportation in the foreign waterborne commerce of the United States. Requires the Commission to find an unfair practice when the acts, policies, or practices of a foreign country unreasonably impair the transportation of goods in the foreign commerce of the United States by vessels documented under the laws of the United States. Outlines standards to be used by the Commission in making such determination. Provides that an unfair practice will be deemed to exist when market domination by vessels of a foreign country is found to exist and vessels of the foreign country transport at least 15 percent more of that class of goods than do U.S.-documented vessels. Outlines administrative procedures to be followed by such Commission in an investigation or adjudicatory procedure under this Act. Requires any investigation commenced under this Act to be completed within six months.

Directs the Secretary of Transportation, upon a finding of an unfair practice under this Act, to enter into negotiations that make goods unfairly transported available to vessels of all countries serving that trade.

Provides penalties for the owners or operators of foreign vessels found to have engaged in unfair practices, unless negotiations to remove such unfair practice have been completed within six months after the Commission finds the unfair practice. Requires any action taken by the Commission concerning such penalties to be reported to the Congress in writing within 60 days.

Establishes in the Treasury the Maritime Practices Account and requires any civil penalties collected from liable foreign vessels under this Act to be deposited into such Account and used by the Commission to enforce this Act.