A European Commission (EC) draft regulation is set to extend by four years a competition rules exemption for liner consortia that was due to expire in April 2020
The EC’s draft regulation is proposing to extend the exemption, which gives antitrust protection to container lines trading in Europe under cooperative vessel-sharing agreements with other lines so long as the companies involved hold a combined share of less than 30% of the market, from its current expiry date of April 2020 until April 2024.
The move has attracted praise from container shipping interests and criticism from shippers and port groups. Liner shipping lobby the World Shipping Council (WSC) commended the EC’s decision.
WSC chief executive John Butler reportedly said, “Vessel sharing arrangements are an established and essential part of the liner shipping networks that carry the international trade of the European Union and the rest of the world.”
Full Content: World Maritime Time
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.