On Monday January 23rd the European Council formally adopted a new set of rules governing ports in the EU. The rules aim to increase the financial transparency of ports and creating clear and fair conditions for access to the port services market throughout Europe. The European Parliament had supported the regulation on December 14th 2016.
The regulation is expected to make it easier for new providers of certain port services to enter the market, creating a more level playing field and to reduce legal
uncertainties for ports, port service providers and investors, the EC said, claiming that the result should be more investment in ports, a better quality of services provided to port users, and lower prices.
Joe Mizzi, Minister for Transport and Infrastructure, said that he welcomed the reforms. “The port sector is vital to the success of Europe’s economy, and it stands to benefit from the increased transparency and clarity which these new rules bring”.
The act will be signed by both institutions in mid-February and published in the EU Official Journal a few weeks later. The act will enter into force 20 days after its publication.