Six of the world's largest container carriers have been subjected to dawn raids by the South African authorities following suspicions of cartel activities. News agency Reuters reports that local subsidiaries of Maersk Line, MSC, CMA CGM, Hamburg Süd, Pacific International Line, and Maersk company Safmarine were all subjected to dawn raids on Wednesday. According to the news agency, the carriers are suspected of having coordinated prices on transports between Asia and South Africa.
The South African competition authorities have therefore launched an official investigation. "Any cartel by shipping liners in this region results in inflated prices for cargo transportation," says Competition Commissioner Tembinkosi Bonakele according to Reuters. "Such cartels have the effect of significantly derailing the economic growth of the region," he adds.