The End Of Liner Conferences As Competition Rules Bite For Bulk Shipping

Law360, New York (November 6, 2006, 12:00 AM EST) -- The European Commission recently announced that the competition law exemption applied to liner conferences will end in October 2008. As of that date all liner conference agreements (fixing rates or capacity) on trades to or from the E.U. will be illegal.

Infringements successfully prosecuted by the Commission, or E.U. national authorities or courts, could lead to significant fines (up to 10% of the relevant group annual turnover), as well as agreements losing legal validity.

The Commission will also now be able to enforce competition rules in...
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