MOL resigns from stabilization agreements

As reported in the JOC, MOL (Mitsui OSK Line) has decided to drop out of "stabilization" agreements from North America.

I am not sure what these agreements allow. It's either discussing vessel sharing, general rate increases, specific rates, or maybe capacity. Anyhow, the EU just pulled the plug on rate discussions to/from Europe. This is the official wording from MOL

"With the European Union's abolition of liner anti-trust immunity, it has become extremely difficult to align the business processes of our entire organization when its regional divisions must operate to differing standards," Masakazu Yakushiji, executive vice president of MOL's liner division, said in a statement.

I expect other carriers will follow suit.