Singapore grants liner competition waiver

Singapore: Singapore has issued a Block Exemption Order for liner shipping agreements from its Competition Act. The decision follows advice from the Competition Commission of Singapore, which says it was influenced by liner shipping's importance to the Republic and a desire to ensure reliability and price stability. Exemption will be backdated to January 1, when the Act came in, and last five years unless varied or revoked. An exception will be liner agreements covering more than 50% of any given trade.  [18/07/06]