Tuesday, 06 December 2016
European Commission Commitments on publication and communication of prices
In November 2013, the European Commission opened an investigation into General Rate Increase (GRI) announcements in the maritime industry, to determine whether the practice infringes upon anti-trust law in Europe.
MOL fully cooperated with the European Commission throughout its investigation. MOL has always held the firm view that its historic practice of announcing GRIs does not infringe anti-trust law.
The European Commission did not conclude that the announcement of GRIs violated anti-trust law in Europe. However, in order to resolve its concerns, on July 7, 2016, the European Commission accepted public commitments from 14 shipping lines, including MOL, under which the lines agreed to change existing practices in relation to GRI announcements. Based on these commitments, the European Commission concluded that there were no longer grounds for action and closed the case.
In the below PDF, you will find a copy of the full text of the commitments offered to the European Commission.
We fully intend to fulfill the commitments that have been made to the European Commission and hope that this will help us earn your trust.
Commitments offered to the European Commission under Article 9 of Council Regulation (EC) No. 1/2003