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Japan: Restraint of trade leads to $56M fine for car shippers

 |  March 18, 2014

Following a price-fixing investigation, the Japan Fair Trade Commission has reportedly issued $56 million in fines to shipping liners.

Reports say K Line, NYK and Wallenius Wilhelmen Logistics were charged with antitrust violations after the JFTC found the companies had fixed car carrier prices for Japanese carmakers.

Reports say the price-fixing affected costs on a route-by-route basis since 2009. Two other companies have also been implicated in the case, according to reports.

The anticompetitive conduct was found to be in violated of the Unreasonable Restraint of Trade law.

Reports say that since the charges, K Line announced that its top officials have returned various portions of their salaries.

Full Content: Seatrade Global

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