Report: EU Ready to Settle with Liner Giants on Price Hikes

MSC The European Commission is considering to accept the offer submitted by fifteen container shipping companies to change their pricing policies in an effort to avoid fines over a suspected breach of antitrust rules, Reuters reported citing sources familiar with the matter. The investigation, which was launched in November 2013, looked into claims that major global container shipping companies have been making regular public announcements on price increases signaling future price intentions to each other and harming competition during a five-year period from 2009 to 2013. As a result of the settlement, in February the liners reportedly promised to publish binding actual rates a month before they go into effect. The European Commission is likely to announce a decision on the matter next month, according to Reuters. The companies said to be included in the investigation are major shipping companies Maersk Line, Mediterranean Shipping Company (MSC), CMA CGM, Evergreen Marine, Hapag Lloyd, China Ocean Shipping (Group) Company (COSCO), China Shipping, Hamburg Sud, Hanjin, OOCL (Orient Overseas Container Line), Japan’s Mitsui OSK Lines (MOL), United Arab Shipping Company, Nippon Yusen Kaisha, Hyundai Merchant Marine and Zim. World Maritime News Staff