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new focus on policy and law enforcement, fullcompliance now matters like never before. Apart fromthe permitted and limited consortia for shipping, maritimecarriers are in the dark with regard to strategic 'projects'such as joining a pool, consortium or alliance whilecomplying with competition law.This uncertainty will undoubtedly last for some time. TheEU has promised appropriate guidance for late 2007, butsuch guidelines will be general and are unlikely toanswer specific questions on particular projects.All operators must ensure that any existing or new formof strategic co-operation in consortia, pools, alliances orother co-operative arrangements fully complies withapplicable rules.There is no longer a notification procedure in which anantitrust rubber stamp can be obtained from theCommission. Companies must make their owncompliance arrangements and will have to satisfythemselves that they will stand up to potential attack.The Commission's guidelines will give some help withself-assessment, but only the company itself can selfassess.Self-assessment of strategic projects can be managed,but it is a process that needs to be carefully anddiligently undertaken. Companies must now start toanalyse where they stand on each market. Specialisedoutside counsel combining experience in shipping andcompetition law can assist in self-assessment, providedsuch counsel is involved at an early stage.The first step, therefore, is to review current operations,especially if companies belong to a pool, joint venture,liner conference or other cooperative arrangement.
The other 'real problem'
Whatever the upcoming guidelines will say, we alreadyknow that price fixing and capacity regulation are nolonger permitted. Indirect or deemed equivalents of suchactivities are also prohibited, but they are much harder toidentify and guard against.This affects not only strategic decision-making at the toplevel of organisations, but everybody involved in day-todayoperations. While the principle of 'no price-fixing'may be simple to understand, the practice is not.Antitrust rules have applied for 50 years in other sectorsof the economy, yet companies still manage to fall intodifficulties.Antitrust liabilities can put a company at serious risk andinfringements can therefore no longer be considered 'acost of doing business'.Compliance is seen as the preferred line of action formany of the world's boardrooms. The problem does notmanifest itself solely in the boardroom, however -moving down organisations, personnel such as salesrepresentatives need to be wary of infringing the rules tomeet targets and short-term results.Others in the organisation may unintentionally infringeantitrust rules. They need to be made aware of wherethe boundaries of permissible behaviour lie. Indeed theboundaries themselves are not clear.This is all the more the case in an industry where lawfulco-operation between competitors is the rule. Anyinformal 'chat' between employees of competitors canlead to the exchange of commercially sensitiveinformation, which is ultra vires and may now bepunished.Companies need to make sure that all their employeesare made aware of the rules, and more importantly thatthey comply with them. Compliance training is the bestmedium to help achieve this objective.
The benefits
Compliance training helps a company to significantlyreduce the risk of antitrust liability, provided that it is welldesigned for the company's own specific needs andimplemented rigorously.R