EC TO REVISE CONSORTIUM REGULATION
The European Commission will publish a preliminary draft regulation
in December to revise the consortium regulation of 1995.
Regulation No. 870/95, adopted in April 1995, grants antitrust immunity
under certain conditions to shipping lines’ consortium agreements, vessel-sharing
agreements and other agreements that do not involve joint rate-making.
The consortium regulation, due to expire next April, is expected to be
renewed with few major changes, according to industry sources.
There have been no calls in the liner shipping industry for the withdrawal of the immunity
of consortia and joint services.
The EC has the authority to revise the regulation but is obliged to
consult member states of the European Union and the industry before adopting the new law.