The European Commission on Wednesday fined four shipping companies a total of 395 million euros for taking part in cartel relating to the transportation of new cars and other vehicles by sea in violation of EU competition laws. In a statement, the Commission said it had imposed the fines on the roll-on/roll-off shipping companies CSAV, K-Line, NYK and WWL-EUKO for forming … [Read more...]
Australia Fines NYK $25 Million for ‘Criminal Cartel Conduct’
The Federal Court of Australia has convicted Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) of criminal cartel conduct and ordered it to pay a fine of $25 million relating to the transportation of motor vehicles to Australia between 2009 and 2012. The fine is the second-highest fine ever imposed by the Australian Competition & Consumer Commission (ACCC). … [Read more...]
Container Shipping Companies Ordered to Testify in U.S. Antitrust Probe
By Jonathan Saul and Keith Wallis LONDON/SINGAPORE, March 22 (Reuters) - The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation over practices by an industry that is the backbone of world trade, the companies said on Wednesday. The world's biggest container group, Denmark's A.P. Moller-Maersk, … [Read more...]
South African Competition Watchdog Seeks Penalty Against K-Line
JOHANNESBURG, March 6 (Reuters) - South Africa's competition watchdog ruled on Monday that Kawasaki Kisen Kaisha Ltd's (K-Line), one of Japan's biggest transport companies, had conspired to rig bids for shipping cars. The Competition Commission said it had recommended a fine equivalent to 10 percent of Kawasaki Kisen Kaisha Ltd's (K-Line) local turnover. A K-Line … [Read more...]
Damen Headquarters Raided Amid Foreign Bribery Investigation
AMSTERDAM, Jan 16 (Reuters) - Dutch investigators have raided the Netherlands' biggest ship builder, Damen Shipyards, as part of a criminal investigation into a foreign bribery case, the finance ministry's anti-fraud agency said on Monday. Investigators from Fiscal Information and Investigation Service seized documents from the shipbuilder's head office in Gorinchem during … [Read more...]