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Singapore: Japanese shippers hit with $5.6M fine

 |  December 11, 2014

The Competition Commission of Singapore has issued a fine totaling about $5.6 million against 10 Japanese freight forwarders and their subsidiaries in Singapore for price-fixing, reports say.

The CCS issued its proposed infringement decision against the companies last April after the watchdog found evidence the companies colluded to rig surcharge and fee prices and had exchanged pricing information. The collusion reportedly affected shipments from Japan to Singapore.

Earlier reports said one shipper, DHL, would not be fined as it had qualified for leniency. Five additional companies saw a reduction in their fines under the CCS’s leniency program.

An investigation into the alleged freight cartel first began in 2011.

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