South African watchdog seeks penalty against K-Line
The commission believes action must be taken against it for price fixing‚ market division and collusive tendering involving the transportation of Toyota vehicles from South Africa to Europe‚ North Africa (Mediterranean Coast) and the Caribbean Islands via Europe‚ West Africa‚ East Africa and Red Sea (Latin America) by sea.
The Commission said K-Line rigged bids with rivals between 2002 and 2013 to fix prices and divide the market for shipping from South Africa.
“South Africa is a strategic hub for the trade of goods in and out of the Southern African region. Any cartel by shipping liners in this region results in inflated prices for cargo transportation‚" said the Commissioner of the Competition Commission Tembinkosi Bonakele.
The Commission said K-Line was working with Mitsui O.S.K Lines Ltd, Nippon Yusen Kabushiki Kaisha (NYUKF) Ltd and Wallenius Wilhelmsen Logistics AS. ■