US: World’s two biggest container companies cleared in antitrust investigation

On Tuesday the world’s two biggest container shipping companies said they have been cleared in an investigation of the sector by the US Department of Justice (DOJ), reported Reuters.

Denmark’s Maersk and Switzerland’s Mediterranean Shipping Company (MSC) were among several companies ordered to testify in an antitrust investigation that began in 2017 over practices by an industry that is the backbone of world trade.

Container companies, which transport everything from TVs to bananas, have tried reduce costs through alliances to pool sailing schedules and port calls. Critics say this can lead to reduced services and increased prices for customers.

Privately-owned MSC, which is the world’s No.2 line, said it had been informed by the DoJ that the department had closed its investigation into MSC and the global container shipping industry without bringing charges or imposing penalties.

“This is an important decision where the global container shipping industry has, once again, been fully investigated and exonerated,” the company said in its statement on Tuesday.