Shippers cry foul as competition regulators ignore consortia
Measures used to calculate the concentration and market shares of shipping lines fail to take ...
Following last week’s announcement that the US Department of Justice (DoJ) and Federal Maritime Commission (FMC) will collaborate more closely, the two agencies have signed a memorandum of understanding (MoU) to develop co-operation and communication.
FMC chairman Daniel Maffei and acting assistant attorney general Richard Powers signed the first MoU between the two agencies today.
The developing collaboration follows an executive order issued on Friday by President Biden aimed at increasing competition in a number of industries, including ocean and rail freight.
The MoU will provide a framework for the two agencies to examine the enforcement of regulations and exchange of information, with regular meetings and discussions.
Mr Maffei said: “The Federal Maritime Commission has an important enforcement role as an economic regulator of a vital industry. As such, we will continually assess how the agency can improve its capacity to protect the integrity of the marketplace.
“This memorandum between the commission and the Department of Justice supplements and strengthens the FMC’s ability to detect, address, and pursue violations of the law or anticompetitive behaviour by those we regulate.”