China fines 21 companies for anti-competition breaches

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In contrast to the current problems afflicting ocean carriers plying Asia-Europe – plunging freight rates on the post-conference environment – China’s Ministry of Transport last week fined 21 carriers a total of $700,000 for offering rates to customers at a “lower than normal rate” on China-Japan routes. The companies allegedly “violated market conditions”, while the lower rates “negatively affecting the ocean shipping market average” and the Ministry of Transport “urged the international shipping community to keep the market fair, in ...