May 18, 2011 - We confirm that the European Commission and UK Office Fair Trading Office had on May 17, 2011, carried out an inspection at our UK office, which appears to be an industry-wide exercise. Their action is to ascertain whether there is any evidence of infringement of European competition law related to our liner shipping transport services. We are in compliance with EU competition legislation and are cooperating fully with the Commission on the investigation.
OOCL has developed and implemented our competition compliance program which includes the establishment of a corporate compliance committee, guidelines and mandatory training of employees to ensure our practices are in compliance with competition legislations including European competition legislation.
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