Hong Kong grants block exemption to VSAs
Hong Kong’s Competition Commission has issued a five-year block exemption for vessel sharing agreements (VSAs) between shipping lines while refusing to authorise voluntary discussion agreements (VDAs).
The order is subject to certain conditions including that VSA members do not collectively exceed a market share of 40% and that the VSA does not authorise or require shipping lines to engage in cartel conduct.
Additionally, shipping lines must be free to withdraw from the VSA without incurring a penalty on giving a reasonable period of notice.
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