Container counterfactuals: spot market vs time-charters
Spotting the time-charter correction…
EC competition commissioner Margaret Vestager
The European Shippers’ Council (ESC) has asked EC competition commissioner Margaret Vestager to abolish general rate increases (GRIs) by shipping lines.
ESC maritime policy manager Fabien Bacquelin told The Loadstar: “In our opinion, there should not be any price announcement. The other characteristics, spot or contract, all-in or with surcharges, are commercial matters to be defined between shipper and its provider,” he said.
The EC spent four years investigating possible price-fixing among liner carriers, which centred around whether the GRI mechanism had allowed lines to ...
Comment on this article
Gunther Ginckels
March 18, 2016 at 3:50 pmESC has the nerve to oppose publically announced prices. For buying a box of cornflakes, the EU insists on the announcement of the price including taxes allowing consumers to know exactly what they buy and are able to evaluate value for money – and right so. ESC could find “few signs of collusion”, yet they suspect collusion? The prove is in the pudding; with Asia/Europe rates below Usd 350.-/TEU one can hardly accuse shipping lines of “collusion” except in the shared loss. What if the top-10 carriers decide to go for a trampmarket set-up by only leaving a loadport when a minimum load factor of 95% is accrued and the revenue per ship allows minimum for a breakeven?
Carl Lauron
March 19, 2016 at 12:12 pmPrice fixing in Shipping Business????? This is a joke. Wake up Brussels!!!! Just have a look at current price level.
Shipping a container from Asia to Europe is cheaper than a Taxi ride during rush hours in Paris….
Half of shipping companies are in Europe and the rest in Asia.
If European Commission wanted to kill European Shipping Industry, they would not really do differently.
European Parlement looks like working for Asian or US funds, as soon this industry will be sold for nothing.
European Parlement question should be : how can I help European shipping business instead of giving them a hard time.
After having killed European steel business, they want to kill shipping.
WAKE UP BRUSSELS……