China Shipowners’ Association calls for fair competition

The China Shipowners’ Association (CSA) has recently released a notice to its members calling for the stamping out of vicious price-cutting, Bloomberg reports.
CSA has called on bulk shipowners to stop attracting cargo resources using prices lower than basic freight costs.
In the meantime, CSA has put price limits on the bulk shipping market. It has announced that freight rates of 57000dwt bulkers and 30000dwt bulkers which are typical ship types on South China routes and East China routes shouldn’t be lower than RMB49 per ton and RMB40 per ton respectively.