A PYMNTS Company

EU: German, Austrian firms fined $54 million for fixing rail freight rates

By  |  July 16, 2015

German logistics operator DB Schenker and Austria’s Express Interfracht have been fined a combined 49 million euros by European Union trust busters for fixing freight rates for eight years.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Kuehne+Nagel, the Swiss global forwarding and logistics company, was also guilty but was granted immunity and forgiven its 62 million euros fine for revealing the existence of the cartel, the European Commission said.

    The three companies colluded on prices and allocated customers for their “Balkantrain” and “Soptrain” block train services between central and Western Europe to Romania between July 2004 and June 2014, the EU’s executive said.

    “I find it very disappointing that a project to enhance transport efficiency and promote environmentally friendly cargo transport was derailed into a cartel,” EU Competition Commissioner Margrethe Vestager said.

    “The European Union needs rail cargo markets to function efficiently on the basis of effective competition and not to be hijacked by vested interests to the detriment of customers.”

    Full content: The Loadstar

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.