Maersk CEO: EU Antitrust Rules Hurt European Companies’ Competitiveness

MaerskImage Courtesy: Maersk

Current competition rules in Europe prevent the creation of giant EU companies that would be able to compete with US and Chinese rivals, Søren Skou, CEO of Danish shipping major Maersk, warned.

In an interview with Danish business magazine Finans, Skou explained that EU competition rules need to be interpreted in light of the new economic and geopolitical reality.

According to Maersk CEO, in the long run, it will hurt consumers if we don’t modernize and adjust the way we interpret the EU competition rules and the economic concepts to that reality so that EU companies can better compete on equal terms.

His comments were confirmed to World Maritime News by a Maersk spokesperson. The comments follow last year’s decision by the European Commission to block the merger between the French Alstom and German Siemens, Europe’s largest suppliers in the rail market. The decision has hurt the duo’s competitiveness, taking into account the rise of China’s player in this sector, CRRC.

Skou is a member of the European Round Table for Industry (ERT), a group comprising chairs and CEOs of 55 of Europe’s leading multinational companies.

In a recently released industrial strategy paper entitled “Turning Global Challenges into Opportunities”, the leaders of these companies have called for smart policies to enhance competitiveness, strengthen innovation and ensure that European companies can thrive in an increasingly complex world whilst creating value for society.

The recommendations included in the paper come at the same time as a new ERT report — “the Competitiveness and Industry Benchmarking Report 2019” — highlights how significantly the EU is falling behind other major economies on key indicators of economic performance.

The latest wave of mergers in the container shipping sector — including Maersk’s acquisition of Hamburg Süd — has been cleared in the European Union. However, it remains to be seen whether any new mergers in the European shipping sector would face a hurdle.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >