Conference Shipping
A conference is an association of conference was formed in 1875, known as UK- Calcutta Conference. The characteristics of conference shipping are:
(i) Restrict/Eliminate Competition: They are organised to restrict/eliminate competition in trade, regulating and rationalizing sailing schedules and ports of call. They operate on the basis of written agreements defining rights and obligations of members. The members are expected to follow the rules set by the conference under agreement. in the event of violation of rules by any member, the agreement provides penalty. Penalty may be as high as the forfeiture of the amount deposited by the member.
(ii) Benefits: The basic aim is to minimize losses and maximize profits by combating Competition among ship owners. There is a rate agreement in respect of the railings between the liner ships. The sailing schedules are regulated.
They can be compared to Bhopal Local bus owners association where the local bus owners are the members of the association. They enjoy unity and work with strict discipline for their common good.
(iii)Particular Trade or Geographical Area: The conference practice is followed by the shipping lines engaged in a particular trade or operating in a specified geographical area. The competition from other shipping lines is encountered by entering into agreements with other conferences operating on alternative routes in such a way that each conference works in one route.
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