EU Fines 15 Leading Shippers For Collusion

Wednesday, May 17, 2000
The European Commission said on Tuesday it had fined 15 liner shipping companies a total of just under $6.3 million for agreeing not to offer discounts from their published tariffs. The companies involved were members of the now-defunct Far East Trade Tariff Charges and Surcharges Agreement (FETTCSA), and include Germany's Hapag-Lloyd AG, Denmark's A.P. Moeller and Britain's P&O Nedlloyd.

The Commission said the fines were modest because an agreement not to discount is less damaging to competition than a price-fixing cartel.

"Shipping lines operating within liner conferences benefit from an exceptionally generous exemption from the normal European competition rules," EU Competition Commissioner Mario Monti said. "It is important that a conference is faced by effective competition from independent shipping lines operating outside the conference. The FETTCSA case shows that the Commission will act firmly where conference and non-conference shipping lines conspire together as a cartel." - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Wärtsilä Electrical Systems for SIEM RoRo Ferries

Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) yard in Germany.

Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Legal

Seized Hanjin Shipping Vessel Resumes Operation in South Africa

Hanjin Paradip resume  its sailing from South Africa as talks continue with owner over unpaid charter fees. The ship had been detained in Richards Bay, South Africa

Korean Shipbuilder Could Be Liquidated

South Korea's STX Offshore & Shipbuilding Co. has filed for receivership, following massive losses that have mounted up over the past two years, says a report in the WSJ.

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0791 sec (13 req/sec)