15 years


China will reduce the negative freight rates

Chinese Ministry of Transport promised to investigate and possibly deny port access carriers that offer zero or negative freight rates in order to compete for business.

In order to maintain fair competition, companies are prohibited from providing services to the international carriage of goods by sea at rates below a reasonable level, the ministry said in a statement posted on the website of the central government.

The claim that the government is moving to regulate the market and prevent price competition.

In a statement the Ministry will initiate an investigation in companies that violate the market order, and fines will range from limited service to suspension of licenses to operate in the country.

"In fact, the rules of international freight rates have been since 2009 and a sentence in accordance with the rules of international maritime transport in China. We confirmed the rule, because the world market weak delivery this year," said Zhang Lin, a member of the international department of the ministry of shipping, in the newspaper Global Times.

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