- Four of five operators at one of the world’s busiest container ports plan to band together
- But others in the trade say such a team, with 95 per cent market share, could monopolize the crucial industry
Hong Kong’s competition watchdog has opened an unprecedented investigation into whether a new “super alliance” between four of the five operators at one of the world’s busiest container ports breaches antitrust regulations.
The powerful business conglomerates running Kwai Tsing Container Terminals are now under official scrutiny, with the government demanding answers after the announcement on Tuesday that they were forming the Hong Kong Seaport Alliance, which would hold a 95 per cent market share at the port.
The Competition Commission on Thursday said it was investigating the alliance “as a matter of priority”, while other players in the trade and logistics industries raised an outcry that it would monopolize the container trade, the lifeblood of business in the city.
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