Maersk Line along with carriers such as Mediterranean Shipping Company (MSC) is nearing a settlement with the EU in a monopoly case that was launched five years ago, reports Bloomberg, citing anonymous sources familiar with the process.
According to the news agency, the carriers have for three years accepted tighter requirements dictating their rate change announcements.
In return, the EU will end the probe and refrain from issuing fines or sentencing any of the carriers.
EU Commission defends major container alliances
Maersk Line declines to comment on ongoing cases, a spokesperson tells ShippingWatch.
"We are cooperating with the EU Commission and have no further comments," says the carrier.
In May 2011, the EU Commission's competition authority conducted a series of dawn raids at a total of 12 container carriers, including the top three players in the sector, Maersk Line, MSC and CMA CGM, following suspicions about concert rate increases and potential breach of the EU's competition and cartel regulations.
The 12 container carriers which in 2011 received surprise simultaneous visits were Maersk Line, MSC, CMA CGM, Cosco, Evergreen, Hapag-Lloyd, APL, Hanjin, OOCL, Hamburg Süd, MOL and NYK.
Russian authorities could launch proceedings against CMA CGM
Russia launches price fixing case against carriers
Alphaliner: EU case challenges carriers rate practice
SeaIntel: EU faces difficult case against container carriers
EU’s competition case against container lines now two years old