Shipping Act

The Shipping Act is a law that regulates how shipping companies operate, ensuring fair competition and reliable service in the maritime industry. It sets rules for licensing, pricing, and agreements between shipowners, freight forwarders, and other industry players. The goal is to prevent monopolistic practices, promote transparency, and protect consumers and businesses that rely on shipping for transporting goods. Essentially, it creates a fair framework for international and domestic shipping activities, helping to ensure ships, cargo, and commerce move efficiently and responsibly.