CMA CGM Joins $434 Million Expansion of Saudi Arabia’s Jeddah Port
Red Sea Gateway Terminal and CMA CGM Group have agreed to invest an initial $434 million to develop a new container terminal at Saudi Arabia’s Jeddah Islamic Port, adding up...
Credit: Gestur Gislason/Shutterstock
By Ana Monteiro (Bloomberg) — South Africa’s antitrust body referred a price-fixing complaint against the local units of some of the world’s top shipping companies including A.P. Moller-Maersk A/S and CMA CGM SA to a tribunal for prosecution.
The companies allegedly fixed the general rate increase charged to customers for shipping cargo between South Africa and Asia and between the nation and the western part of Africa from 2008 to 2018, in contravention of domestic antitrust laws, the Competition Commission said in a statement on Tuesday.
“The dismantling of the cartel will reduce the price of goods imported to South Africa for the benefit of consumers and will also reduce the costs of exports out of South Africa, which will, in turn, render the South African exports competitive in the world markets,” Commissioner Doris Tshepe said.
The commission’s probe found that the shipping companies charged the same rate increase for the routes from Shanghai, Ningbo and Shekou to the southeastern port city of Durban as they did from Durban to Hong Kong, and from Qingdao to Durban.
The other respondents in the case are local units of MSC Mediterranean Shipping Co., Pacific International Lines Pty Ltd., Mitsui OSK Lines Ltd., Cosco Shipping Holdings Co., Evergreen Marine Corp. and K Line Shipping.
© 2025 Bloomberg L.P.
This article contains reporting from Bloomberg, published under license.
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