FMC to assess whether container lines are abusing market power

According to freightwaves.com, the Federal Maritime Commission plans to audit nine of the largest container carriers operating in U.S. markets to find out if they are abusing their market power to overcharge shippers on detention and demurrage fees.

The top nine carriers by market share included in the audit are Maersk, MSC, CMA CGM, COSCO Group, Hapag-Lloyd, ONE, Evergreen, HMM and Yang Ming.

The audit program comes just a week after the FMC announced an agreement with the Department of Justice to boost the economic oversight of foreign carriers serving in the U.S. international container trades, following an executive order issued by the White House aimed at reining in what it considers to be excessive market power by the ocean carriers.

More information can be found in this article published on Freight Waves.