Wallenius Wilhelmsen Admits to Price Fixing in Africa
- Business & Finance
South African Competition Commission said that it has reached a settlement agreement with Norwegian shipping liner Wallenius Wilhelmsen Logistics (WWL) for contravening the competition act.
Namely, the Commission found that WWL colluded on 11 tenders with its competitors for the transportation of motor vehicles to and from South Africa by sea.
According to the Commission, the company admitted to this collusive conduct and agreed to pay an administrative penalty in the amount of R 95.7 million (around USD 7.5 million).
” We filed the settlement agreement with the Tribunal today, for confirmation as an order of the Tribunal,” the Commission said on Thursday.
The settlement was reached following the Commission’s investigation of collusive conduct against shipping liners, namely: Mitsui O.S.K Lines; Kawasaki Kisen Kaisha Ltd; Compania Sud Americana de Vapores; Hoegh Autoliners Holdings AS; Wallenius Wilhelmsen Logistics; Eukor Car Carriers; and NYK that they allegedly fixed prices, divided markets and tendered collusively in respect of the provision of deep sea transportation services.
Just a month ago Japanese shipping liner Nippon Yusen Kabushiki Kaisha Ltd. (NYK) agreed to pay a ZAR 104 million (USD 8.5m) fine after admitting liability for several instances of price fixing,
World Maritime News Staff