U.S. agencies sign memorandum to boost competition in maritime industry

Container ships and oil tankers wait in the ocean outside the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles
FILE PHOTO: Container ships and oil tankers wait in the ocean outside the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy Nicholson

July 12, 2021

WASHINGTON (Reuters) – The U.S. Justice Department and the Federal Maritime Commission on Monday signed a memorandum of understanding to foster cooperation and communication between the agencies to boost competition in the maritime industry.

The memorandum establishes a framework for the Justice Department’s Antitrust Division and the commission to continue regular discussions and review law enforcement and regulatory matters affecting competition in the maritime industry. President Joe Biden signed an executive order Friday aimed at lowering the costs of shipping goods.

(Reporting by David Shepardson)