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of <h1>Liner Shipping Vessels Sharing Agreements Exempt from Section 3 of Competition Act, 2002 for One Year in India.</h1> The Ministry of Corporate Affairs, under the Competition Act, 2002, has exempted Vessels Sharing Agreements in the Liner Shipping Industry from Section 3 provisions for one year. This exemption applies to carriers of all nationalities operating from any Indian port, provided the agreements do not involve price-fixing, capacity or sales limitation, or market allocation. The Director General of Shipping will monitor these agreements, requiring operators to submit copies of existing or new agreements and relevant documents within specified timeframes to ensure compliance.
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