In ocean shipping effective competition cannot be expected without competitive controls as in this case the so called market mechanism frequently fails. The following article discusses the role of revenue pools in the system of organised competition in ocean shipping.

On November 19,1971, during the 27th annual International Air Transportation Association’s ’ IATA ’ meeting, a new fare structure on the North Atlantic route was reached. Has this new agreement saved IATA as “a system of freely arrived-at and freely-respected basic rules”, or does this...

In ocean shipping effective competition cannot be expected without competitive controls as in this case the so called market mechanism frequently fails. The following article discusses the role of revenue pools in the system of organised competition in ocean shipping.