A PYMNTS Company

South Korea: FTC probes price-fixing by foreign car shipping firms

 |  August 7, 2016

The Fair Trade Commission is looking into allegations of price-fixing by international automobile shipping companies, the antitrust agency said Aug. 4.

According to the FTC, a number of foreign shipping companies may have colluded to fix prices between 2008 and 2012.

Companies under investigation include Japan’s Nippon Yusen, K Line, Mitsui O.S.K. Lines, Norwegian firm Wallenius Wilhelmsen Logistics and Chile’s CSA.

Japanese shipping companies had received about $179.64 million fines in 2014 after they admitted to unfair practices in 2014. In addition, the US and Chinese antitrust agencies have found similar activities by a total of 13 shipping companies.

Full Content: Hellenic Shipping News

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