A PYMNTS Company

EU: Box lines offer to change pricing policy to appease antitrust probe

By  |  February 10, 2016

Leading shipping container groups Maersk, MSC and 13 other firms have offered to change their pricing practices to settle an EU antitrust probe and stave off any fines, three people familiar with the matter said on Wednesday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The case is being closely watched by other sectors such as supermarkets and chemical firms which use similar methods to announce future price hikes to enable customers to choose the best rates and are keen to get some regulatory guidance.

    The European Commission opened an investigation into the companies, among the world’s 18 largest shipping liners, in November 2013 following dawn raids in May 2011.

    The EU competition enforcer said the shipping companies may have been illegally orchestrating price hikes since 2009 via public announcements of rate increase plans on their websites and in the specialised trade press.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.