US antitrust regulators raid Box Club meeting in San Francis

Time: 2017-03-23 14:03
AMERICAN antitrust investigators from the US Department of Justice (DoJ) have raided the biannual Box Club, Reuters reports.
They served subpoenas on the CEOs of major container lines, taking advantage of a rare window of opportunity for the DoJ to exercise their power over foreign companies, said the Wall Street Journal.
Maersk Line confirmed on that it had been served with a subpoena. "The subpoena does not set out any specific allegations against Maersk Line," said a Maersk Line spokesman, adding that the company will fully cooperate with the authorities in the investigation.
The subpoenas were issued during a meeting of the world's 20 biggest container shipping operators in San Francisco.
The DoJ has regularly voiced concerns about antitrust laws as they relate to vessel-sharing agreements.
And on this occasion antitrust investigators' raid pre-empted the Federal Maritime Commission, the agency tasked with regulating shipping, which indicates DoJ is targeting a "grey area", said the WSJ report.
German container shipping line Hapag-Lloyd also confirmed it was given a subpoena, but could not be reached for comment.
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