Wikborg Rein : Shipbrokers Should Beware of Changes to Competition Law

Wednesday, February 04, 2004
Sweeping changes in competition law across Norway and the EU could have serious consequences for shipowners and shipbrokers alike, warns Oslo-based law firm Wikborg Rein. Developments in competition law mean both a stricter regime and harsher penalties, says Wikborg Rein partner Trond Eilertsen. Traditionally, the competition law regime has been viewed as an issue for owners. But under the new regime, brokers not only must avoid engaging in cartel practices themselves, but must also ensure they do not act as middlemen in cartel agreements between shipowners. "Since the broker plays a key role in regard to the various contracts of carriage between owners and cargo interests, ignorance of the potential liabilities can have serious consequences," warns Eilertsen. Further changes to the law mean that it will no longer be possible to ask Norwegian competition authorities for approval of individual agreements. As a result, a working knowledge of the restrictions imposed by competition law is increasingly important. "As the line between illegal co-operation and intelligent market behaviour is not always easy to discern, the advice of professionals should be sought to resolve any questions prior to entering agreements," Eilertsen says.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

DP World H1 Earnings Jump, Mulls Iran launch

DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company.

IMEI Certification - Unique Achievement

For Institute of Marine Engineers of India having achieved standardisation and maintainenace of quality processes simultaneously not just at their Head Office

Wärtsilä 34DF Becoming a Trendsetter

The upgraded version of the Wärtsilä 34DF engine is rapidly becoming established as an industry standard. The three major South Korean shipyards are supporting

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2467 sec (4 req/sec)