Wednesday, June 2, 2010
FMC and EU scrutinize shipping lines over potential price fixing
A U.S. regulator and the European Union's competition watchdog are monitoring the world's top container shipping lines for any evidence of price fixing.
The scrutiny comes as the prices shipping lines charge have kept rising even as the industry's supply of new ships has continued to increase sharply.
The shipping lines, including industry leader AP Moeller-Maersk AS, deny they are operating a cartel.
The Federal Maritime Commission in the U.S., where carriers enjoy broad antitrust immunity, has opened a "fact finding" investigation into shipping rates.
-WSJ
For the full story (subscription required): online.wsj.com/article
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