Hong Kong’s Competition Commission is investigating the newly formed Hong Kong Seaport Alliance for its compliance with the city’s antitrust laws.

The commission said that it was opening a formal investigation as a matter of priority.

The Hong Kong Seaport Alliance, which is scheduled to come into effect during 2019, was established by a joint agreement between Hongkong International Terminals Limited, Modern Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited and Asia Container Terminals Limited, and covers the operation and management of 23 berths across eight terminals at the Port of Hong Kong.

According to the alliance, the collaboration is in response to new carrier alliances, industry consolidation and the increasing size of container vessels.

The only terminal not included in the alliance is Goodman DP World, which operates one berth at the port.

HIT is fully owned by Hutchison Port Holdings Trust, while COSCO-HIT is a 50-50 joint venture between HIT and COSCO SHIPPING Ports. HPH Trust also holds a 40% stake in ACT.