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Cartels would have propped up Asia rates
Thursday, 29 October 2009 00:00

The executive director of the European Liner Affairs Association (ELAA) believes rate declines on Asia- Europe services would not have been so severe if the conference system had not been abolished.

The ELAA’s Chris Bourne admitted the current crisis faced by the liner industry was mainly caused by the difference between capacity supply and demand, not the abolition of the conference system in Europe.

But he added: “Even if it is difficult, if not impossible to judge, the freefall of rates on the major Asia- Europe trade might not have been so severe if the conference system had still been active in Europe.”

Statistics recently published by the ELAA show that while volume declines appear to have slowed in the third quarter, its pricing index shows rates remain around 40-45% down on last year.

International Freighting Weekly, 10/29/2009