Fifteen major owners agree to publish more transparent prices after European antitrust probe.

The European Commission (EC) has agreed a deal on more transparent pricing with 15 major container lines following an antitrust probe.

The EC said commitments offered by the shipowners will address concerns relating to “concerted practices”.

Europe opened formal antitrust proceedings to investigate general rate increases (GRIs) in November 2013, although the process had begun with unannounced “inspections” in May 2011.

Investigators were worried that the publishing of future price-increase intentions – often three to five weeks in advance – would harm competition.

“During that time some or all of the other carriers announce similar intended rate increases for the same or similar route and same or similar implementation date,” the EC said.

“Announced GRIs have sometimes been postponed or modified by some carriers, possibly aligning them with the GRIs announced by other carriers.”

Read the whole article at Tradewinds