Opaque shipping arrangements prompt government regulation, Cabinet papers show

Opaque shipping arrangements prompt government regulation, Cabinet papers show
By Paul McBeth April 22 (BusinessDesk) - A lack of insight into the arrangements international shipping lines use to operate in New Zealand has inflamed fears the companies could be artificially pushing up freight costs and is central to the thinking behind a new regulatory regime, Cabinet papers show. Commerce Minister Craig Foss said the current regime doesn't offer effective oversight, and without that, "there is a risk that the prices paid by consumers of the services are higher than they would be in a competitive market," according to a...