South Africa’s competition watchdog has approved the merger of three Japanese container shipping lines, NYK, MOL and K Line, as the Ocean Network Express.
The tribunal rejected the merger last summer, citing evidence of past collusion between container shipping firms and the prospect of the merger leading to further anti-competitive behaviour.
However, this morning the tribunal reversed its decision after the Japanese firms agreed conditions designed to prevent collusion between their car-carrying and bulk shipping divisions.
The post Ocean Network Express cleared for April launch as last regulatory barrier is cleared appeared first on The Loadstar.
Source: The Loadstar