EU Commission has announced that it has closed its investigation into 14 container shipping companies including Maersk Line without finding an infringement of EU competition law.
Today, the EU Commission has announced that it has closed its formal investigation (COMP AT.39850) into 14 container shipping companies including Maersk Line pursuant to Article 9 of Regulation 1/2003 without finding an infringement of EU competition law.
The Commission opened the investigation on 21 November 2013. The investigation related to the use of General Rate Increase (GRI) announcements in the liner shipping sector. GRI announcements are used to inform customers of intended price increases.
“We are very pleased that the EU Commission has closed the case withoutfinding an infringement of EU competition law. We and the other shipping companies have throughout declared that we have not engaged in any practices that contravene EU competition law,” says Camilla Jain Holtse, Chief Legal Counsel on competition compliance in Maersk Line.
Maersk Line and the other parties have offered and will adopt commitments by which Maersk Line and the other shipping lines will change the way they make price announcements to customers. Notably, there will be changes to the current industry practice of announcing GRIs. Maersk Line will continue to announce price increases 30 days in advance of implementation to its customers by the usual communication channels. However, instead of solely announcing the amount of the increase, price announcements will include the total price resulting from the increase and further elements to increase transparency for customers.
The commitments are available on the website of the Directorate-General for Competition at: https://ec.europa.eu/competition/index_en.html.
“We are committed to comply with all applicable laws and regulations. We train and support our employees, we monitor our compliance, and we work with authorities and engage in regulatory matters. In short, we work hard to comply, also with competition laws as this case shows,” concludes Camilla Jain Holtse.
Shipping News You Would Like:
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Latest Shipping News You Would Like:
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.