By Gavin van Marle (The Loadstar) - US ocean regulator the Federal Maritime Commission (FMC) has fired a warning shot across the bows of container shipping lines, saying it will head to the courts if there is evidence of collusion on the transpacific trades. Freight rates between Asia and the east and west coast of the US have reached record highs in recent months and, … [Read more...]
Wallenius Wilhelmsen Enters Guilty Plea in Australian Cartel Investigation
Norwegian-based shipping company Wallenius Wilhelmsen Ocean AS is likely facing millions of dollars in fines after pleading guilty today in Australian federal court to criminal cartel conduct. Wallenius Wilhelmsen Ocean AS, a subsidiary of Wallenius Wilhelmsen ASA, was charged in August 2019 following an investigation by the Australian Competition and Consumer Commission … [Read more...]
EU Antitrust Regulators Halt Hyundai, Daewoo Deal Probe
File Photo: Daewoo Shipbuilding & Marine Engineering shipyard. Credit: Panwasin seemala / Shutterstock.com BRUSSELS, April 2 (Reuters) - EU antitrust regulators have halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries' $1.8 billion merger with Daewoo while waiting for the companies to provide information. The European Commission … [Read more...]
Maersk Chief Warns EU Antitrust Policy Benefits China, U.S.
COPENHAGEN, Jan 15 (Reuters) - Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and U.S. companies, the head of shipping company Maersk warned in an interview. "Is it really a good idea that we don't allow the creation of a European global champion? In doing so, we risk being outperformed by a … [Read more...]
European Commission Opens Antitrust Investigation Into Fincantieri’s Bid for Chantiers de l’Atlantique Shipyard
By Foo Yun Chee BRUSSELS, Oct 30 (Reuters) - Italy's bid to create a European industrial champion in the shipbuilding industry faces difficulty after EU antitrust regulators said Fincantieri's bid for Chantiers de l'Atlantique would significantly reduce competition. The European Commission said the deal between two global leaders in an already concentrated and capacity … [Read more...]