Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Oz shipping lines criticise NZ Productivity Commission

Australian shipping companies criticise NZ Productivity Commission

Oct. 11 (BusinessDesk) – Shipping Australia is accusing the New Zealand Productivity Commission of poor number crunching when it concluded something needs to be done to stop shipping companies fixing prices.

The attack by the lobby group representing 35 shipping companies came in a submission to a draft report on strengthening trans-Tasman economic relations.

The New Zealand Productivity Commission was involved in the trans-Tasman study and in April published a separate report advocating regulatory clearance of price fixing and other anti-competitive arrangements in shipping. Shipping companies are exempt from competition law.

Shipping Australia found the New Zealand Productivity Commission’s freight report to be “extremely disappointing”.

“There was no economic analysis of the global state of international freight liner shipping or, in particular, the trans-Tasman trade between Australia and New Zealand,” the council said.

It would have been helpful if there had been rigorous economic analysis of the New Zealand situation, the council said.

There was nothing to suggest that the removal of the exemption from competition law would be in the public interest or in the interests of exporter and importers.

The council also argued that exemptions to international shipping companies were common and they had recently been extended by both Japan and Singapore.

The council wants the productivity commission to recommend only that more studies be undertaken on the issue.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

The Price Of Cheese: Cheddar At Eight-Year Low

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent. More>>

ALSO:

Financial Advisers: New 'Customer-First' Obligations

Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news