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THE ANTITRUST EXEMPTION IN THE U.S. SHIPPING ACT - SHOULD IT BE ELIMINATED OR MODIFIED?

Control over agreements and practices of ocean common carriers in U.S. foreign commerce is exercised by the Federal Maritime Commission (FMC) under the Shipping Act of 1916, as amended. Pursuant to s. 15 of the Act, concerted activities of ocean common carriers in the U.S. trades are exempt from the U.S. antitrust laws if they are authorized by agreements approved by the FMC. Agreements on rates and practices between common carriers in the U.S. trades must be filed for approval, and if approved are subject to FMC supervision under the Act's provisions and the FMC's regulations elaborating on those provisions. The major approved agreements are the shipping conference agreements covering rates and practices in the various inbound and outbound U.S. foreign trades. In the 60 years since passage of the Act, the U.S. Justice Department has sought to whittle down the control exercised by the FMC and its predecessors over competition in this industry. Other critics of the exemption also have argued that it should be modified or eliminated. Previous positions and comments of the Justice Department indicate that it will espouse an anti-conference view and argue anew for a narrowing or repeal of the Act's antitrust exemption. This article discusses the advisability of such an action.

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  • Corporate Authors:

    Lloyd's of London Press Limited

    Sheepen Road
    Colchester, Essex CO3 3LP,   England 
  • Authors:
    • MEADE, J P
  • Publication Date: 1976-11

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Filing Info

  • Accession Number: 00149573
  • Record Type: Publication
  • Source Agency: Lloyd's of London Press Limited
  • Files: TRIS
  • Created Date: Apr 13 1977 12:00AM