ACCC: Wallenius Wilhelmsen pleads guilty to criminal cartel conduct
Norwegian-based global shipping company Wallenius Wilhelmsen Ocean AS (WWO) has today entered a guilty plea in the Federal Court to criminal cartel conduct, Australian Competition & Consumer Commission (ACCC) said.
A cartel exists when businesses agree to act together instead of competing with each other. Cartel conduct can include price fixing, sharing markets, rigging bids and controlling the output or limiting the amount of goods and services.
“We are pleased that by entering a guilty plea, WWO has acknowledged its role in this criminal cartel. This plea means the last of the cases in the long-running shipping cartel matters is now closer to being resolved,” ACCC Chair Rod Sims said.
The case has been adjourned for sentencing at a later date.
This is the third guilty plea in Australia in relation to this cartel, according to ACCC.
On July 18, 2016, Nippon Yusen Kabushiki Kaisha (NYK) pleaded guilty to criminal cartel conduct and was convicted and fined $25 million on 3 August 2017.
Kawasaki Kisen Kaisha Ltd (K-Line) pleaded guilty to criminal cartel conduct on April 5 2018 and was convicted and fined $34.5 million on August 2, 2019.