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Don't panic on EU tramp plans says Penn.
(From Lloyds List)
Byline: Commission starts work on rules covering pools and other forms of alliance between shipowners operating non-liner services, writes Janet Porter
A DETAILED analysis of global shipping markets has been commissioned by the European Commission as it prepares to extend its jurisdiction to the non-liner sector.
Norwegian shipbroker Fearnleys, London law firm Holman Fenwick ' Willan and economic analysts Global Insight have been appointed to produce a study of both the economics and legal structure of the tramp shipping trades by mid-December.
The findings will form a vital part of the regulatory process as the commission starts working on rules for shipping pools and other forms of alliances between shipowners operating non-liner services.
While industry bodies such as the International Chamber of Shipping, Chamber of Shipping and Baltic Exchange have been lobbying Brussels in support of the pool system which they argue is highly competitive, those claims have to be rigorously tested.
Legal opinion is divided as to what action shipowners should take to prepare for the new regime and whether they should be making changes now or waiting until the commission has clarified its own thoughts.
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