The Federal Maritime Commission has seen no evidence of price-fixing by the ocean-shipping alliances and expects more consolidation from the industry during the worst downturn in 30 years, The Wall Street Journal reported yesterday. Commission Chairman Mario Cordero addressed concerns of cargo owners and maritime regulators that alliances formed by the top container operators in the past two years might have resulted in secret deals to push up freight rates. The three alliances, which allow ship operators to save billions of dollars annually by sharing ships, networks and port calls, now move more than 95 percent of all cargo across the world’s oceans. Container ships move the vast majority of the world’s manufactured goods. Industry growth has been depressed for the past three years by slowing global trade, overcapacity and other factors that have pushed freight rates to below sustainable levels. “More consolidation will be coming,” Cordero said. “There are expectations that the major container operators will be reduced by as much as half.”
