European Shippers Council urges US to regulate 2M alliance

The European Shippers Council (ESC), which represents European importers and exporters, has said it wants the US Federal Maritime Commission (FMC) to make sure the 2M alliance does not lead to increased freight rates.

The 2M alliance is a proposed deal between the world’s two largest shipping companies, Maersk and Meditteranean Shipping Company which would lead to cooperation and cost savings on the Transatlantic Transpacific and Europe-Asia routes.

ESC chairman Denis Choumert said, in a letter to the FMC, reportedly seen by the Wall Street Journal: “The gathering of the two first ship operators will create a huge player that will be in a position to have such power that they can distort the market for the purpose of price increases.”