Executive Briefings

EU Investigation Into Possible Price Fixing Spreads to Asian Carriers' European Offices

European Union antitrust officials raided the European offices of a number of Asian carriers on Tuesday in addition to European shipping lines as part of a probe into suspected price fixing in the sector, the lines reported.

Neptune Orient Lines, OOCL, Evergreen Marine and Hanjin Shipping all said that they were part of a European Commission investigation into the violation of antitrust rules.

EU regulators on Tuesday raided several liner shipping companies, including Maersk Line, CMA CGM, and Hapag-Lloyd.

The European Commission, the EU's executive wing, said it "has reason to believe the companies concerned may have violated the antitrust rules that prohibit cartels and restrictive practices and/or abuse of a dominant market position."

The EU outlawed price-setting liner conferences in October 2008 when it abolished carriers' long-standing exemption from antitrust enforcement.

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European Union antitrust officials raided the European offices of a number of Asian carriers on Tuesday in addition to European shipping lines as part of a probe into suspected price fixing in the sector, the lines reported.

Neptune Orient Lines, OOCL, Evergreen Marine and Hanjin Shipping all said that they were part of a European Commission investigation into the violation of antitrust rules.

EU regulators on Tuesday raided several liner shipping companies, including Maersk Line, CMA CGM, and Hapag-Lloyd.

The European Commission, the EU's executive wing, said it "has reason to believe the companies concerned may have violated the antitrust rules that prohibit cartels and restrictive practices and/or abuse of a dominant market position."

The EU outlawed price-setting liner conferences in October 2008 when it abolished carriers' long-standing exemption from antitrust enforcement.

Read Full Article