ShippingWatch

Container industry has one month to assess new rate practice

The 15 container carriers, which have been investigated for three years by the EU Commission in a competition case, have now agreed to implement a new pricing practice. This gives the industry, and not least customers, one month to assess the deal's commitments.

A new practice could very well emerge soon in the container industry after the EU Commission and 15 of the world's biggest container carriers have reached an agreement in relation to the three-year investigation into whether the carriers are violating EU competition legislation and coordinating their business when they publicly announce price increases through the so-called General Rate Increases, or GRI.

The EU Commission has not hidden the fact that it finds the current practice problematic, but the Commission has not been able to prove that the container carriers are violating the competition legislation. The container carriers have cooperated with the Commission since November last year in an effort to reach an agreement so that the case could be closed without fines for the shipowners.

Read the whole article

Get 14 days free access.
No credit card required.

  • 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

3i buys AMP out of Esvagt

Private equity firm 3i, which owns half of carrier Esvagt, has agreed with the company's second owner, AMP Capital, to take over all of Esvagt for GBP 268 million, making 3i the sole owner. The transaction is expected to close in the first quarter of 2022.

Further reading

Related articles

Latest news

See all jobs