The news was not misleading at all.....all along it is known that there is such a cartel.

In 21st century, it is called Price Fixing......to avoid lawsuit....it is better to call a discussion group than a cartel.....

Some many example, LCD Price Fixing, Airline Price Fixing, Vitamins C tablet Price Fixing, UK Right Hand Drive Price Fixing....

The only Cartel that can openly say that they are fixing price is OPEC.

This news was misleading,

NOL issued clarification

Clarification Statement re media report on page 5 of the Business Times: “NOL unit, shipping lines raising rates on Asia-US routes” (9 July 2009)
Neptune Orient Lines (NOL) wishes to clarify that this media report (as well as certain other media reports) stem from a press release issued solely by the Transpacific Stabilization Agreement (TSA). Neither NOL nor its subsidiary, APL has issued any media or press statement on the subject.
The TSA is a liner discussion agreement covering the Asia/US container trade lane. It comprises14 container shipping lines, including APL.
The TSA regularly issues guidelines on freight rates and other issues. However, individual carriers have a ‘mandatory right of independent action’ whether or not to adhere to these guidelines.
There is no assurance that APL can successfully implement the quantum of freight rate increase as outlined in the TSA guideline.
BY ORDER OF THE BOARD
Wong Kim Wah (Ms)
Company Secretary
Date : 9 July 2009