EU Prolongs Antitrust Exemption Until 2010

The European Union on Monday prolonged until 2010 its arrangement for providing exemption to antitrust laws for shipping companies which team up to form consortia. The arrangement automatically excludes cargo shipping consortia from EU antitrust rules banning collusion between companies, providing the consortia do not control more than 30 percent of any market they are working in. Consortia with a larger market share can also apply for exemption under certain conditions.