Several car shippers face fines for rigging bids
The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities.
Competition regulators around the world have penalised a number of shippers in recent years for fixing prices and dividing the markets for shipping cars and other products on various routes.
Norwegian shipping company Wilh. Wilhelmsen ASA confirmed at the time the raids at its 50 percent-owned Wallenius Wilhelmsen unit and EUKOR, in which it has a 40 percent stake.
Other shippers involved in the case include K Line (Kawasaki Kisen Kaisha Ltd) and Mitsui O.S.K Lines, the people said.
The Commission, which can penalise companies up to 10 percent of their global turnover for breaching EU antitrust rules, said at the time that the services under investigation included shipping cars, construction materials and agricultural machinery. It did not name the companies.
WWL took a $200 million provision for all its antitrust cases in the third quarter of 2015, of which $98.5 million was for a U.S. fine, $34 million for a Japanese sanction and $7 million for a Chinese penalty. EUKOR was fined $44 million in the Chinese case. ■