News / Investors get nervous as DoJ subpoenas CEOs of major carriers at the Box Club

Container shipping line share prices declined sharply today after news that US Department of Justice (DoJ) investigators served subpoenas to liner executives at the biannual Box Club meeting last week.

Maersk shares fell 6% and Hapag-Lloyd 7% in the aftermath of the news.

According to a Reuters report, Maersk, Hapag-Lloyd and OOCL have confirmed that their CEOs were served with subpoenas, but stressed that that this did not imply any wrong-doing.

An Investor analyst source said: “We find that any mention of the word subpoena tends to strike ...