China’s NDRC fines eight car carriers in anti-competition crackdown


China’s National Development and Reform Commission (NDRC) has announced today that it has fined eight foreign auto shipping companies for anti-competitive behaviours as a result of an investigation into the car carrying industry and ocean transport to and from China.

The investigation, which started in August 2014, has found Wallenius Wilhelmsen Logistics, EUKOR, Mitsui O.S.K. Lines, CSAV, CCNI, K Line, Eastern Car Liner engaged in agreements prohibited by Chinese anti-monopoly laws by causing a restriction of competition in the Chinese market. The total of the fines amount to $65m with Japan’s NYK also found to have colluded but not fined. NYK was not fined as it turned itself in.

Wilh Wilhelmsen said EUKOR and Wallenius Wilhelmsen Logistics have received RMB 284.7m ($44m) and RMB 45.1m ($7m) fines respectively from NDRC.

Norway’s Hoegh Autoliners was also investigated by the Chinese authorities, however it was not proved to be involved in the agreements.

Source from : Splash