Vessel Sharing Agreements in Liner Shipping Industry Exempt from Section 3 of Competition Act for One Year.

The Central Government, under section 54 of the Competition Act, 2002, exempts Vessels Sharing Agreements in the Liner Shipping Industry from section 3 of the Act for one year from the notification's publication date. This exemption applies to carriers of all nationalities operating ships from any Indian port, provided the agreements do not involve price fixing, capacity limitation, or market allocation. The Director General of Shipping will monitor these agreements, requiring operators to submit copies and relevant documents within specified timeframes to ensure compliance.

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