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.

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