EU executive adopts competition rules for shipping

The European Commission said on Tuesday it had adopted new competition guidelines for shipping liner companies.
Liner companies are currently exempt from competition rules, but that arrangement expires in October.
"As from October 2008, liner companies will have to assess themselves whether their business practices comply with the competition rules," the European Union's executive arm said in a statement.
"The guidelines will help maritime operators understand the implications of this change, and provide details on market definition, information exchange in liner shipping and on operational cooperation agreements between tramp operators, so-called pool agreements," it added.