FMC to Host International Summit on Trade Impact of Shipping Deals
The Federal Maritime Commission plans a global regulatory summit Dec. 17 to discuss global regulatory issues such as carrier alliances, vessel sharing agreements and the impact of those agreements on international trade, it said. The FMC said it expects attendees to include international regulators from China and the European Union.
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"The shipping industry is dynamic as evidenced by the changing nature of agreements," said FMC Chairman Mario Cordero. "The effects of these trends will have global implications that demand an international understanding of our changing industry."
The FMC said further details will be available soon.
The European Commission recently said it opened formal antitrust proceedings against several container liner shipping companies to investigate whether they violated antitrust rules by engaging in concerted practices (here). The EC said container companies have been making regular public announcements of price increase intentions through press releases on their websites and in the specialized trade press since 2009, including the amount of increase and the date of implementation, usually a few weeks before the announced implementation date.
The EC said this practice may allow the companies to signal future price intentions to each other and may harm competition and customers by raising prices on the market for container liner shipping transport services on routes to and from Europe.