Home / Uncategorized / UPDATE: Maersk / Hamburg Sud merger

 

NZSC recently contacted the Commerce Commission for an update on their market enquiry regarding the Maersk / Hamburg Sud merger. We have received a comprehensive response that the competition authority does not intend to take any further action on this matter.

By way of explanation the Commerce Commission advised they did not receive a formal application for clearance from the parties so they assessed whether the proposed acquisition would be in breach of section 47 of the Commerce Act 1986 (section 47 prohibits mergers that would have the effect, or likely effect of substantially lessening competition in a market in New Zealand).

After making a number of enquiries (including NZSC members) the Commission did not consider that the proposed merger of Maersk and Hamburg Sud was likely to have such a result. It considered that while there will be aggregation on a number of shipping routes as a result of the merger, sufficient excess capacity exists in the market such that other carriers will be able to enter or expand into affected routes relatively swiftly, to respond to any exercise of market power by Maersk/Hamburg Sud. It noted the recent entry of Seatrade as an example of this.

The Commission also noted that they liaised closely with the other international competition agencies that considered this matter and noted the extensive investigations carried out by the USDOJ, EU and the ACCC, which found that no issues were likely on the Oceania to North America and Europe routes.

 
 
 
 
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