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This new ruling will bring transparency to pricing in the liner shipping industry.
The Freight Transport Association (FTA) says the European Commission’s adoption of new pricing rules for shipping lines will modernise the industry and bring it into the 21st Century.
The new legislation follows a three-year EU investigation into price signalling – the announcement of general rate increases - which was highlighted by FTA. Members of the Association’s British Shippers’ Council first raised concerns about the uncompetitive behaviour in 2010 and a dossier was submitted to the Council to support the claims.
The shipping lines involved agreed to significantly change their pricing behaviour, which is reflected in the Commission’s decision under Article 9(1) of Regulation 1/2003 declaring the binding the commitments offered by the lines - most notably that they will cease to publish general rate increase announcements.
FTA’s Director of Global and European Policy, Chis Welsh, said: “FTA welcomes the Commission's decision. It closes another chapter in the liner shipping industry by ending inappropriate liner conference-type pricing arrangements. We welcome recent statements by some lines to modernise their existing pricing arrangements as a result of the Commission's commitments decision, thus bringing shipping into line with normal business practices.” Read more
Source: FREIGHT TRANSPORT ASSOCIATION
