Ocean Transportation Practices Act of 1987

Ocean Transportation Practices Act of 1987 - Directs the Federal Maritime Commission (the Commission) to investigate whether unfair trade practices are used in the ocean transportation of goods transported in the foreign commerce of the United States. Requires the Commission to find an unfair trade 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 further standards to be used by the Commission in making such determinations. Outlines action to be taken by the Commission if an unfair trade practice is found to exist. Provides for civil liability for the owner of a foreign vessel found to be engaging in unfair trade practices if certain negotiated actions are not taken within a specified time period. Requires any final action by the Commission under this Act to be reported to the Congress in writing within 60 days.

Directs that any civil penalties collected as the result of enforcement of this Act are to be deposited into the Maritime Displacement Account. Directs the Secretary of Transportation to use the amounts so deposited to assist vessels affected by unfair trade practices to gain access to the trades. Directs the Secretary to prescribe regulations to carry out this provision.