China Teaches Seven Car Carriers a Lesson

Image Courtesy: MOL

China’s National Development and Reform Commission (NDRC) has fined seven shipping companies for taking part in price-fixing as the country aims to decrease competition in the Chinese auto industry.

Among the companies that violated China’s anti-monopoly law are South Korean EUKOR Car Carriers, Norway-based Wallenius Wilhelmsen Logistics, which received fines of USD 44 million and USD 7 million, respectively, and Japan’s Mitsui O.S.K. Lines, which received a reduced fine amounting to USD 6 million.

Other companies penalized were Japan’s K Line and Eastern Car Liner Ltd. and Chile’s CSAV and CCNI.

Japanese shipping company NYK was also found guilty for violating the anti-monopoly law, however, due to the company’s cooperation to NDRC’s investigation, it has received an immunity from the fine.

Both MOL and NYK said that they have taken measures to assure compliance with antitrust laws to prevent a recurrence of the matter.

The companies also announced additional training of their employees in the field of antitrust law compliance.

The investigation and penalization was conducted under China’s 2008 anti-monopoly law in an effort to force down prices Chinese consumers complain are too high.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

CWC World LNG & Gas Series: Americas Summit

Now in its 15th year, the CWC World LNG & Gas Series: Americas Summit is the longest running LNG event in the Americas region.

Bringing together the key players in the LNG & gas value chain in both the Americas region and globally, this is the perfect place to make new contacts, do deals and get essential updates on the market.

This year we return to Houston, TX once again on 20-23 June 2017 – the heart of the energy industry, making it easier than ever to access they key players in your business.

More info

read more >

Nor-Shipping 2017

Nor-Shipping is the leading maritime event week. Their top-quality exhibition, high-level conferences and prime networking opportunities…

read more >

2ND ANNUAL PORTS AND TERMINALS INSURANCE SEMINAR

DETAILED GUIDANCE ON HOW THE INSURANCE MARKET IS CHANGING, HOW RISKS ARE ASSESSED AND WHAT…

read more >

2ND ANNUAL ADVANCED CHARTERING MASTERCLASS

The Advanced Chartering Masterclass will focus on the particularly difficult issues in charterparty agreements and our experts will help you find solutions…

read more >