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China fines eight container lines over misreporting freight rates

China fines eight container lines over misreporting freight rates
China has fined eight container lines a total of RMB1.1m ($168,610) over their failure to comply with standards of filing of freight rates, the country’s ministry of transport announced before the close of 2015.

The ministry stated in a brief statement that the fine was imposed as part of efforts to safeguard the healthy and stable development of the international container shipping market, and to strengthen the standards on rate filing obligations.

The eight shipping lines that were fined are Gold Star Line, Pacific International Lines (PIL), Maersk Line, Namsung Shipping, Cheng Lie Navigation Co, Cosco Container Lines, Hanjin Shipping and Zim International Shipping Lines.

The ministry added that the fines have been paid in full.