Press Release: European Commission proposes to approve the revised TACA liner conference

After a lengthy investigation the European Commission announced on 3 December 2001 that it plans to grant an exemption from competition rules to the Trans-Atlantic Conference Agreement (TACA), a grouping of shipping companies which provide regular container transport for freight between ports in northern Europe and the United States. The approval will be subject to compliance with certain conditions. The Commission believes that the modifications brought to the conference as well as the developments on the marketmake the agreement eligible for exemption. But before taking a final position, the Commission invites third parties to comment on a draft published in the Official Journal C 339.