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.
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