• An association of ship owners operating in the same trade route who operate under collective conditions and agree on tariff rates.
  • Defined in the 1984 Shipping Act as: … an association of ocean common carriers permitted, pursuant to an approved or effective agreement, to engage in concerted activity and to utilize a common tariff; but the term does not include a joint service, consortium, pooling, sailing or transshipment arrangement.
  • It is basically a group of steamship companies offering equitable freight rates, standardized shipping practices and regularly scheduled services between designated ports. These arrangements are given anti-trust immunity as authorized by the 1984 Shipping Act.