Feeder operators vow to fight German boxship 'cartel'

shamrock
17th July 2009, 08:55
EUROPEAN feeder operators are vowing to fight any attempts by German banks and containership owners to corner the charter market and force up rates, branding a proposed scheme “a price-fixing cartel”.

An idea has been circulated to set up a new company, Baltic Max Feeder, that would take control of as many as 500 ships and set hire rates considerably above current levels.

Vessels of up to 1,400 teu would be put into the new company that could be jointly owned by banks, KG funds, and owners.

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http://www.lloydslist.com/ll/news/feeder-operators-vow-to-fight-german-boxship-cartel/20017676284.htm