Singapore’s trade ministry has extended container lines’ exemption from competition rules for another five years.

The block agreement for liner shipping (BEO) will now run until the end of 2020.

The BEO was first issued in July 2006 and allows agreements between two or more vessel-operating carriers on price or technical, operational or commercial arrangements.

But owners have to meet certain conditions, including non-mandatory adherence to tariffs, and allowing member lines to enter into confidential individual contracts and offer their own service arrangements, local media said.

Singapore’s