The Competition Commission of South Africa has reached a settlement agreement with K-Line, under which the Japanese company will pay a 98 million rand (US$5.9 million) fine for its role in the global roll-on, roll-off shipping cartel.
The vehicles were for export to Europe, North America, the Mediterranean coast, and the Caribbean islands via Europe, West Africa, East Africa, and Latin America.
Sipho Ngwema, the head of communications at the Commission, said on Tuesday, August 21, that although the Commission charged K-Line with 15 separate instances of contraventions of the Competition Act, the company had only admitted to eight contraventions.
K-Line’s settlement agreement with the Commission still has to be confirmed by the Competition Tribunal.
Full Content: Container News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI