Term:
Shipping conferences
Definition:
Shipping conferences refers to shipping companies that have formed an association to agree on and set freight rates and passenger fares over different shipping routes. There are different shipping conferences for different regions of the world. Shipping conferences, aside from setting rates, adopt a wide number of policies such as allocation of customers, loyalty contracts, open pricing contracts, etc. Historically, eastern bloc country shipping lines have not joined these conferences.
Domain:
Finance
Source:
Glossary of Industrial Organisation Economics and Competition Law, compiled by R. S. Khemani and D. M. Shapiro, commissioned by the Directorate for Financial, Fiscal and Enterprise Affairs, OECD, 1993