COMPETITION AND COMBINATION
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COMPETITION AND COMBINATION book
In the liner as well as in the tramp trades, competition was keen; for the big lines, with their numerous ports of call, and their widespread agency organization, collected cargo and passengers from many countries. If international competition had failed to deprive British shipping of its predominant position in world trade, it had, nevertheless, had a very marked effect on the prosperity of the industry, and an equally marked indirect effect on methods of operation, by intensifying the competitive element which is always strong in the carrying trade. The liner trades were somewhat less affected by variations of demand, and liner rates, which are fixed for a definite period in advance, were not subject to so feverish a fluctuation as tramp freights; but they were, perhaps, even more affected by international competition. The other method adopted to reduce rate-cutting competition was the formation of the Liner Conferences.