Brussels, 04/07/2001 (Agence Europe) - After an in-depth investigation, the European Commission had approved the acquisition by Hutchison Netherlands BV and Rotterdam Municipal Port Management (RMPM) of the Rotterdam container terminal operator Europe Combined Terminals BV (ECT), subject to commitments. As initially notified, the Commission noted that the acquisition would have led to the creation of a dominant position on the market of the provision in Northern Europe of stevedoring services for transhipment traffic carried by deep-sea container vessels (see EUROPE of 2 March, p.11). However, the parties have offered undertakings that will enable significant competition to emerge on the market in question.
The Commission's in-depth investigation focused on the provision of stevedoring services for the North European transhipment market and confirmed that the concentration would lead to the creation of a dominant market position, giving Hutchison/ECT a market share of around 50% (over twice as big as its nearest two competitors taken individually, HHLA (18.2%) and Eurogate (17.3%)). The parties' strong position is also reflected in their high share of port calls by the main shipping lines on the important Northern Europe - Far East and Transatlantic trades. Furthermore, the parties' Felixstowe and Rotterdam terminals have several natural advantages that make them particularly suited to serving larger vessels. The increasing use of ever larger vessels on the major trades to and from Europe, accounting for a very high proportion of overall transhipment traffic, would therefore strengthen Hutchison/ECT's market position. In the course of the investigation, the parties submitted commitments, which will result in the emergence of independent competition in the Port of Rotterdam, one of the main transhipment ports in Northern Europe for deep-sea container vessels. Subject to the parties' full compliance with the submitted undertakings, the Commission concluded that the acquisition would not lead to a dominant position on the market in question.