Concern over new Chinese law requiring liners to register rates

摘要

US shipper representation group the National Industrial Transportation League (NITL) has said it is watching closely a new Chinese law - which requires ocean carriers to file their freight rates with a Governmental agency - to see how it affects contracts.rnThe Implementing Rules on Filing Freight Rate by International Container Liner Service came into effect on August 1 and requires carriers to file their tariff rates and negotiated freight rates with the Shanghai Shipping Exchange. This organisation has been designated by the Ministry of Transport to perform surveillance of the rates.rnThe NITL said: 'The League is currently examining the new regulation with a particular emphasis on examining the degree, rate transparency and how this mayrnimpact contracts. Under the Ocean Shipping Reform Act of 1998 (OSRA) rates are among the contract terms that are confidential from public scrutiny and are only known to the parties to the contract and filed with the US Federal Maritime Commission. The League will continue to follow this matter closely.'