China’s Ministry of Transport has announced today that it has decided to punish 14 container lines for either not reporting their freight rates to the ministry or not carrying out the freight rates as reported.
The total fines dished out to the 14 companies amounts to RMB2.39m ($347,212).
The ministry has talked with the China representatives of eight container lines that have severely breached the regulations. Hamburg Süd, Gold Star Line, Wan Hai Lines, Wan Hai Lines (Singapore), Heung-A Shipping, KMTC, Evergreen and CMA CGM have been asked to submit rectification reports to the ministry.
The names of the other six companies fined for lesser offences were not revealed.
The ministry said it will further tighten regulation in the international container shipping market to maintain a healthy market environment, threatening to impose heavier fines on those who breach regulations.