Container Company ECT Under Investigation
By Aiswarya Lakshmi
Friday, February 6, 2015
The Dutch Authority for Consumers and Markets (ACM) is reportedly investigating alleged market manipulation by Europe Container Terminals (ECT), the largest container company in the Rotterdam harbor.
According to anonymous sources, ACM raided ECT last summer and found it was giving priority to inland shippers it hired itself to take goods to and from the port in its European Gateway Services. Several companies complained about the preferential treatment ECT.
Dutch newspaper Financieele Dagblad (FD) says its sources want to remain anonymous because of the powerful position ECT holds within the port. Several sources told the FD that about 18 employees of ACM invaded the headquarters that they. They seized computer files and questioned some managers.
The alleged violation of market relations and competition is said to have taken place at ECT’s many terminals in the port of Rotterdam and at inland container terminals in Moerdijk, Venlo, Terneuzen and Flushing. The latter two are owned and operated by Verbrugge Terminals, with EGS a major customer.
In response to the press coverage in the Netherlands, ECT issued a statement confirming that ACM started an investigation on August 28. According to ECT, "the investigation focuses on alleged incorrect discrimination against [some] container barges to the benefit of certain (other) barge operators. The investigation only covers ECT’s Maasvlakte terminals and does not include the operations of European Gateway Services or any inland container terminals. ECT rejects any allegation and strongly denies the accusation [made in the newspaper article] that it would have manipulated the market."