ADLC finds no anticompetitive object in DFDS and P&O Ferries’s agreement

On 11 September 2025, the Autorité de la concurrence (ADLC) – the French Competition Authority – published its decision regarding a mutual space chartering agreement between DFDS and P&O Ferries on the Calais-Dover freight route. The ADLC concluded that no anticompetitive purpose was established in view of the agreement’s content, objectives and economic and legal context.

This decision marks the conclusion of a series of investigations conducted by both the ADLC and the UK Competition and Markets Authority (CMA), which began in 2021 following a complaint lodged by Eurotunnel. While the CMA first found that the agreement (with commitments) was not anticompetitive, and was likely beneficial to customers, the ADLC proceeded with its investigation.

CRA advised DFDS throughout both the CMA (see CRA press release on its decision) and the ADLC investigations. In the latter, a CRA team including Raphaël De Coninck, Mikaël Hervé, Charlie Whitehead, and Victor David advised both DFDS and P&O. The team conducted a comprehensive economic assessment of the agreement, drawing on a range of quantitative tools – including econometric evaluations, dynamic scheduling models, and diversion ratio analyses. The analysis demonstrated the agreement’s benefits, including shorter crossing times, improved reliability and choice, and better scheduling. The analysis also provided evidence that the agreement preserved, and even strengthened, competitive dynamics in the market.

The ADLC concurred with the CMA in finding no anticompetitive object in the agreement (see ADLC press release). This outcome underscores the importance of robustly assessing actual market effects – even in cases involving supposedly ‘by object’ restrictions.