OOCL confirms it is being investigated by EU and British trust busters

HONG KONG's Overseas Orient Container Lines (00CL) has confirmed that EU and British competition authorities have raided their offices near the Felixstowe container port in search of evidence of collusion with other carriers to rig the shipping markets.


"We confirm that the European Commission and UK Fair Trading Office had carried out an inspection at our UK office, which appears to be an industry-wide exercise," said the OOCL statement.


"Their action is to ascertain whether there is any evidence of infringement of European competition law related to our liner shipping transport services. We are in compliance with EU competition legislation and are cooperating fully with the commission in the investigation," said the release.


"OOCL has developed and implemented our competition compliance programme which includes the establishment of a corporate compliance committee, guidelines and mandatory training of employees to ensure our practices are in compliance with competition legislations including European competition legislation," the statement concluded.
(Source:http://www.schednet.com)