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.
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 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