The European Commission extended the effective period of the consortia block exemption regulation (BER) for an additional five year period until April of 2020. The regulation provides a “safe harbor” under European competition law for vessel sharing arrangements that have a market share up to 30%. The World Shipping Council commends the European Commission for continuing to recognize both the benefits of vessel sharing consortia and the importance of the consortia BER to the efficient operation of those operational arrangements. “Vessel sharing arrangements are an established and essential part of the liner shipping networks that carry the international trade of the European Union and the rest of the world,” said WSC President and CEO Christopher Koch. He added: “Consortia allow carriers to provide their customers with better services at lower cost, with improved environmental performance.” The Commission’s block exemption regulation provides legal certainty to carriers and transparency to the shipping public about the rules under which consortia operate. Koch noted: “In this most international of businesses, it is essential that the rules are clear and that everyone has the same understanding of what those rules are. The consortia block exemption regulation provides that clarity, which makes the system more efficient and more predictable. That benefits everyone involved.” The liner shipping industry transports over 33 million TEU (twenty-foot equivalent unit) of imports to and exports from the European Union annually that are valued at more than $1.6 trillion and is estimated to contribute more than $65 billion each year to the economy of the European Union.