TACA CARRIERS ACCEPT EC COURT JUDGMENTS
Shipping lines of the Trans-Atlantic Conference Agreement said they will not appeal recent adverse judgments of the European court of first instance of Luxembourg, issued on Feb. 28.
The European court ruled that the former Trans-Atlantic Agreement, which started operating in 1993, was not a liner conference exempted by Regulation No. 4056/86, and upheld a decision by the European Commission to remove the immunity from fines of the Trans-Atlantic Conference Agreement, its successor agreement. The Feb. 28 court decisions meant that TACA lines now face the risk of additional fines for having continued to set inland and intermodal rates in Europe despite an order by the European Commission to stop. In 1999, TACA eventually stopped setting joint inland and intermodal rates in Europe.
“The lines involved (which include the present members of the TACA) have decided not to appeal against these judgments to the European court of justice and have informed the European Commission of their decision,” TACA said in a statement.
“The priority of the current members of the TACA is to continue to work together with their customers and the European Commission to find commercial and legal solutions which meet the legitimate needs of all concerned,” it added.
Current TACA members are Atlantic Container Line, Hapag-Lloyd, Mediterranean Shipping Co., Maersk Sealand, NYK, OOCL and P&O Nedlloyd.
The TACA carriers said in February that they hope to obtain the approval of the European Commission for their revised conference agreement, dubbed “TACA 2.” TACA carriers are still also involved in a legal appeal of fines totaling 273 million Ecu ($300 million), imposed on them in 1998 by the European Commission for abuses of a dominant position in the transatlantic trade.