China Fines Eight Liner Companies
Eight container shipping companies are facing fines from China’s Ministry of Transport for violation of freight rate-related regulations.
An inspection found that the companies in question failed to report their freight rates or did not meet the standards set by the ministry regarding freight rate standards, the ministry said.
The container carriers found in breach of the regulation include some of the industry’s top players, those being: Gold Star Line, Pacific International Lines, Maersk Line, Nansung Shipping, Cheng Lie Navigation, COSCO Container Lines Co, Hanjin Shipping Co. and Zim Integrated Shipping.
The total fine for the violation amounts to RMB 1.1m (USD 169,555).
The move comes within the country’s efforts to curb price fixing schemes among carriers so as to avoid tariff irregularities in the shipping sector and create a level-playing field for liner companies.
World Maritime News Staff