China’s National Development and Reform Commission (NDRC) has suspended its investigation into a number of container shipping giants as it allowed the companies to settle by lowering their charges.
The investigation, which included up to 18 container carriers, was dropped after the firms said they would decrease their terminal handling charges.
With these changes, the carriers are expected to save exporters and importers some CNY 4.6 billion (USD 667.4 million) per year, according to MLex market insight.
The settle, which was announced by China’s NDRC on March 27, include including Hong Kong-based Orient Overseas Container Line (OOCL), Taiwanese Yang Ming, Wan Hai Lines, Singapore’s Pacific International Lines (PIL), Kawasaki Kisen Kaisha (K Line), Israel’s Zim Integrated Shipping Services (ZIM), United Arab Shipping Company, and another seven container carriers, on March 27.
World Maritime News Staff