The start of a cooperation scheme involving 350 European Union container ships will be delayed by an EU competition investigation, the German initiator of the plan said, Reuters reported.

But it was still hoped the scheme could start later this year if EU competition clearance is given, Hermann Neemann, who is organising the Baltic Max Feeder scheme told Reuters.

"I am still optimistic, I have not buried the plan," he said.
The EU Commission, the bloc's executive arm, said on it had opened an investigation into anti-competitive business practices by Baltic Max Feeder, in which ship owners will share the cost of laying up idle vessels.

The scheme, aimed to start in early 2010, involves small size ships carrying up to 1,400 cargo containers involved in shipping or feedering between large deep sea ports and smaller harbours.

The scheme had been seeking US$170.4 million of bank loans and $60 million in contributions from shipping companies, said Neemann, chief executive of German tax adviser Anchor Steuerberatung.