This paper examines the current economic environment and recent legislative changesin the U.S. international liner shipping industry, which has operated under antitrustimmunity for cartel agreements since 1916. Specifically, we address the impact ofthe Ocean Shipping Reform Act (OSRA) of 1998, which increased cartel enforcementcosts by reducing the transparency of freight rates and mandating that cartel membershave independent contracting rights. Our analysis looks at industry trends andinvestigates whether OSRA has affected cartel membership, contracting practices,horizontal integration, and freight rates.
Review of Industrial Organization – Springer Journals
Published: Oct 13, 2004
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