FMC and US Justice Department promote fair competition in the shipping industry
The United States Department of Justice (DOJ) and the Federal Maritime Commission (FMC) have strengthened their partnership to jointly enforce competition laws and to promote competition in the ocean freight transportation system.
The two parties have worked together in the past. Their working relationship was formalised in July 2021 with the signing of a Memorandum of Understanding (MoU).
The MoU established a framework for partnership between the FMC and the Justice Department’s Antitrust Division that enhances cooperation in the enforcement of antitrust and competition laws such as the Shipping Act, by facilitating information exchange between and among attorneys, economists, and technical experts.
Upon this MoU, United States attorney general Merrick B. Garland and FMC chairman Daniel B. Maffei have now announced new steps the two agencies will take to bolster their partnership.
“Our agencies have a history of cooperating to the benefit of the American consumer and this new support will help ensure that the working relationship will help both government entities in our shared goal of fair competition,” claimed Maffei.
The DOJ that promotes economic competition through enforcing and providing guidance on antitrust laws and principles will provide the FMC with the support of attorneys and economists from the Antitrust Division for enforcement of violations of the Shipping Act and related laws.
Additionally, the FMC will offer the Antitrust Division the support and maritime industry expertise for Sherman Act and Clayton Act enforcement actions.
“Competition in the maritime industry is integral to lowering prices, improving quality of service, and strengthening supply chain resilience, and expanding joint enforcement partnerships like the partnership between the FMC and DOJ is one of our most powerful tools for promoting competition,” said Garland.