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Singapore: Initial findings suggest freight cartel

By  |  April 1, 2014

The Competition Commission of Singapore has released provisional findings following its inquiry into the air freight industry, announcing that 11 companies may have formed a cartel to fix prices.

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    According to the CCS, the companies seem to have fixed fees and surcharges by colluding to exchange consumer information. The freight route affected includes shipments between Japan and Singapore, reports say.

    The watchdog found that the companies met in Japan to exchange the market sensitive information and agree on prices for services on routes from Japan, including those that landed in Singapore.

    Reports say the CCS launched its investigation after one member of the cartel approached regulators. A Proposed Infringement Decision has now been issued to the companies involved, which were not named by the regulator.

    Full Content: Channel News Asia

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