According to the OECD, there are around 110 jurisdictions in the world with competition laws. The basic
rules in all of them are that:

• Price fixing
• Market sharing
• Capacity management

are not allowed; but in most there are exclusions to the general rule if efficiencies and benefits to
consumers can be identified. Exceptions on an international basis are rare, but there is one in respect of
liner shipping.

Tramp shipping, unlike liner shipping, has never been the subject of an international convention allowing
uniform pricing and revenue sharing (see the UNCTAD Code). Despite this fact, few jurisdictions have
given any consideration to the use of pooling in non-liner shipping.

By pool we mean a collection of similar vessels under various ownerships, collectively managed and marketed.

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