Ship Inspection Cos. Settle EU Antitrust Probe

Law360, New York (October 14, 2009, 5:12 PM EDT) -- The European Union’s antitrust regulators have called off their probe of the ship classification market, having secured binding commitments from the International Association of Classification Societies that will grant greater access to competitors.

On Wednesday the European Commission announced that IACS, the chief shipping industry group, agreed to adopt more transparent membership criteria and open up its activities to rival ship classification organizations in order to remedy the group's perceived exclusiveness.

The IACS proposed the measures after the European Commission raided its office in January as...
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