ShippingWatch

EU accepts container lines' major rate increases

EU has earlier in the coronavirus process issued a warning to the container lines that are now facing criticism for having used the crisis to force prices up. But beyond this, the EU competition regulators will not interfere, ShippingWatch has learned.

Photo: Fabian Bimmer/Reuters/Ritzau Scanpix

The EU Commission is not considering intervening in the container shipping sector in order to bring down the record-high freight rates, several sources familiar with the field tell ShippingWatch.

As such, the EU will not follow China's example and summon shipping lines to a meeting after the rates have climbed to record highs on several routes, a development, among things, triggered by the fact that the major shipping companies simultaneously pulled ships one after another.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Norden books "fantastic" second-quarter result

Product tanker and dry bulk company Norden bags a result for the second quarter that the carrier itself describes as ”fantastic.” CEO Jan Rindbo says this is due to the ”exceptional” product tanker rates, according to a financial statement.

Further reading

Related articles

Latest news

See all jobs