13 November 2018

US regulator seeks meeting over shipping mega tie-up, WSJ says

The US Federal Maritime Commission has called for a meeting with its European and Chinese counterparts to scrutinize the proposed alliance of the world’s three biggest container-ship operators, the Wall Street Journal reported on Tuesday. The proposed tie-up of A.P. Moller-Maersk A/S of Denmark, CMA CGM of France and Mediterranean Shipping Co. of Switzerland, announced in June, will give the three European firms joint control of more than 40 percent of total sea-cargo capacity in some of the world’s busiest trade routes. “There is a lot of concern among [smaller] carriers and the shipping community about the impact of such an alliance,” Mario Cordero, chairman of the US Federal Maritime Commission, was quoted as saying in an interview. “That’s why I called for a summit with our fellow regulators.” The meeting could be scheduled as soon as mid-December, he said. 

– Contact HKEJ at [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe