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Multinational: Watchdogs call rare meeting over global shipping alliance concerns

 |  November 19, 2013

The US’s Federal Maritime Commission has called a rare meeting with its counterparts within the EU and China to discuss growing concerns of a planned alliance of the world’s top three container-ship operators, say reports.

Denmark’s AP Moller-Maersk, France’s CMA CGM and Switzerland’s Mediterranean Shipping Co. are planning a joint venture that would lead to control of more than 40 percent of the world’s cargo shipping operations. Authorities within the US, EU and China must clear the deal, which was announced last June.

Now, the FMC has planned to meet with authorities in the EU and China as early as mid-December to discuss concerns the joint venture may have on global competition; according to FMC chairman Mario Cordro, the meeting would mark the first instance of the three regulators meeting at such a senior level to discuss a shipping alliance, say reports.

The European Commission confirmed participation in the meeting; China’s Ministry for Transport did not immediately respond to requests for comment, reports say.

Full Content: Wall Street Journal

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