EC liner probe widens

EC liner probe widens    A European Commission probe this week into possible liner antitrust violations widened to include three new container lines, it emerged Wednesday.
   EU investigators raided the European offices of Maersk Line, Mediterranean Shipping Co., CMA CGM, Hapag-Lloyd, NOL and Hamburg Sud, saying it had 'reason to believe that the companies concerned may have violated the antitrust rules that prohibit cartels and restrictive business practices and/or abuse of a dominant market position.”
   On Wednesday, Evergreen Line, Hanjin Shipping, and OOCL confirmed they were also inspected by the EC. All the lines investigated so far have denied any wrongdoing and say they are cooperating fully with the EC.

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   OOCL said in a statement: 'We are in compliance with EU competition legislation and are cooperating fully with the commission on the investigation.'
   The EC abolished liner carrier antitrust immunity in October 2008, preventing lines from discussing rates and other competitive issues on trades to and from Europe.
   It's unclear what prompted the investigation this week. Rates on the Asia/Europe trade have been on a rollercoaster since the antitrust exemption was withdrawn. But it's far from clear what impact the end of liner immunity has had on the industry, especially in light of huge dips and spikes in demand over that period stemming from the global recession.