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 Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

NZ Interislander Ferry to Dry-dock in Devonport

NewZealand's KiwiRail says that the Interislander ferry Arahura has left Wellington for her scheduled bi-annual dry-docking in Devonport, having last visited Auckland in July 2012.

Legal

NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council.

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

Indian Investigators Drop Case Against Billionaire Birla

India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1239 sec (8 req/sec)