Singapore has decided to extend the block exemption order (BEO) for liner shipping agreements (LSAs) for another five years until December 31, 2020.
This follows a public consultation by the Competition Commission of Singapore (CCS) and its recommendation to renew the existing exemption regime.
According to Singapore newspaper Business Times, the BEO exempts liner shipping agreements from the prohibition against anti-competitive agreements under section 34 of the Competition Act. This includes non-mandatory adherence to tariffs, and allowing member liner operators to enter into individual confidential contracts and offer their own service arrangements.
