Ocean Transportation Reform Act (OTRA)

The Ocean Transportation Reform Act (OTRA) is legislation aimed at improving the regulation of shipping companies that transport goods across oceans. It seeks to ensure fair competition, protect cargo owners, and promote transparency in maritime practices. The act addresses concerns about anti-competitive behavior, such as unfair pricing or practices that can harm businesses relying on global shipping. By implementing updated standards and oversight, OTRA helps create a more balanced and reliable shipping industry, benefiting importers, exporters, and consumers by fostering efficiency and fairness in international ocean freight.