COPENHAGEN, Feb 16 (Reuters) – Maersk Line, the world’s largest container transport firm, stated on Tuesday it could change the way in which it publishes worth adjustments following a contest probe by the European Union.

Its announcement confirmed earlier experiences by Reuters that transport firms might want to implement measures that might primarily cap their worth rises.

Maersk Line, a part of Denmark’s A.P. Moller-Maersk group, stated the way in which it could now announce adjustments in its freight charges for shippers wanting to move items, could be extra clear.

The EU Commission stated on Tuesday that the 15 transport firms underneath investigation had promised to be “bound by their price announcements during their validity period as maximum prices but will be free to offer lower prices.”

The transport trade has been hit by report low freight charges because of sluggish development within the international economic system, particularly a slowdown in China.

Shipping firms are likely to announce General Rate Increases (GRIs) a few month earlier than they intend to extend spot costs alongside primary routes.

However, within the present market local weather these intentions hardly ever come to move as overcapacity and low volumes usually forces transport firms to just accept decrease costs than the “GRIs” they introduced.

Nevertheless, the EU Commission stated expressing this intention in public thus far forward “may allow the parties to explore each others’ pricing intentions and to coordinate their behaviour”.

The Commission needs companies to announce worth adjustments no sooner than 31 days earlier than the date they’re because of come into impact.

The different firms underneath investigation are Mediterranean Shipping Co (MSC) and CMA CGM, Evergreen Marine , Hapag Lloyd, China Ocean Shipping (Group) Company (COSCO), China Shipping, Hamburg Sud, Hanjin Shipping, Orient Overseas Container Line (OOCL), Mitsui OSK Lines (MOL), United Arab Shipping Company, Nippon Yusen Kaisha, Hyundai Merchant Marine and Zim.

Third events have a month to offer suggestions on the EC proposal earlier than the Commission can settle for the supply with none discovering of wrongdoing or doable fines. The pledge could be legitimate for 3 years for routes to and from Europe. (Reporting by Sabina Zawadzki; Additional reporting by Foo Yun Chee in Brussels; Editing by Susanna Twidale, Greg Mahlich)