Thus, the specter of continued antitrust immunity for carriers is even more daunting for the future. At this point, virtually all containerized cargo is carried on ships owned by foreign steamship lines. The sharing of this information results in rates being higher, or at least not as responsive to market demands. It means that the ocean carriers are not as flexible as other transportation providers in developing mutually beneficial relationships with shipper. An argument has been raised that the antitrust immunity is necessary to provide stability in ocean trades.
History proves otherwise.
Antitrust immunity has existed since 1916, and the U.S. flag fleet has over that time, withered and virtually disappeared. Foreign companies now own our fleet. Freight rates have fluctuated up and down, particularly when manipulated by conferences. Numerous ocean carriers have gone out of business. There are now fewer competing carriers than ever before.