Liners ask Hong Kong to spare alliances rigours of harsh competition law
Time：2015-12-25
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"The Singapore Competition Commission last month recommended an extension of Singapore抯 existing block exemption for liner shipping agreements for another five years, until the end of 2020, citing the significant economic benefits that stem from these important agreements," said.
"We hope the [Hong Kong] Commission will recognise the need to keep Hong Kong consistent with its trading partners in this important area," said the HKLSA statement.
The HKLSA made an application to the Competition Commission for a block exemption order for liner shipping agreements under the newly-implemented Competition Ordinance.
"This marks an important step for Hong Kong in ensuring that one of its key industries can continue to operate as it has for decades in Hong Kong and around the world," said an HKLSA statement.
"Liner shipping agreements promote stability, transparency and healthy competition in the industry," said the HKLSA statement.
"They allow shipping lines to exchange information in a way that provides a stable business platform and helps them make sounder business decisions. With these agreements in place, the industry continues to be highly competitive, as evidenced by the fact that numerous carriers are active in Hong Kong and shipping rates are currently at an historic low, all of which benefits customers and ultimately, consumers," the statement said.