The liner shipping industry has welcomed news that the European Commission's Consortia Block Exemption Regulation will be extended for five years until April of 2020.
The regulation provides a "safe harbour" under European competition law for vessel sharing arrangements with a market share up to 30 per cent, reported the Daily Shipping Times of Mumbai.
The World Shipping Council (WSC) commended the European Commission for continuing to recognise both the benefits of vessel sharing consortia to the efficient operation of shipping.
"Vessel sharing arrangements are an established and essential part of the liner shipping networks that carry the international trade of the European Union and the rest of the world," said WSC president and CEO Christopher Koch.
"Consortia allow carriers to provide customers with better services at lower cost, with improved environmental performance," he said.
The commission's block exemption regulation provides legal certainty to carriers and transparency to the shipping public about the rules under which consortia operate.
Said Mr Koch: "In this most international of businesses, it is essential that the rules are clear and that everyone has the same understanding of what those rules are.
"The consortia block exemption regulation provides that clarity, which makes the system more efficient and more predictable. That benefits everyone involved," he said.
The regulation provides a "safe harbour" under European competition law for vessel sharing arrangements with a market share up to 30 per cent, reported the Daily Shipping Times of Mumbai.
The World Shipping Council (WSC) commended the European Commission for continuing to recognise both the benefits of vessel sharing consortia to the efficient operation of shipping.
"Vessel sharing arrangements are an established and essential part of the liner shipping networks that carry the international trade of the European Union and the rest of the world," said WSC president and CEO Christopher Koch.
"Consortia allow carriers to provide customers with better services at lower cost, with improved environmental performance," he said.
The commission's block exemption regulation provides legal certainty to carriers and transparency to the shipping public about the rules under which consortia operate.
Said Mr Koch: "In this most international of businesses, it is essential that the rules are clear and that everyone has the same understanding of what those rules are.
"The consortia block exemption regulation provides that clarity, which makes the system more efficient and more predictable. That benefits everyone involved," he said.