English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Wallenius Wilhelmsen fined for price-fixing

WASHINGTON, DC: July 14, 2016. The U.S. Department of Justice (DoJ) has fined Wallenius Wilhelmsen Logistics (WWL) US$98.9 million for price-fixing RORO ocean cargo to and from Baltimore and other locations in the United States.

The WWL case follows earlier successful prosecutions of CSAV, K-Line and NYK and subsequent fines of over US$230 million. In addition eight executives, including former NYK Line general manager Susumu Tanaka, have pleaded guilty to their involvement and sentenced to prison terms. The DoJ said the other four executives have been indicted, but remain fugitives.

Wallenius Wilhelmsen DoJ According to the one-count felony charge, WWL conspired with other RORO shipping lines from February 2000 to September 2012 to fix prices, rig bids, and allocate customers.

“WWL and its co-conspirators cheated their customers for years by fixing the prices of ocean shipping services for cars, trucks, and other cargo essential to our nation’s economy,” said principal deputy assistant Attorney General Renata Hesse, head of the Justice Department’s Antitrust Division. 

“It is with great regret that I conclude that our policies were not always followed as they should have been,” responded Håkan Larsson, chairman of the board of WWL and member of the EUKOR board. “We have supported this investigation throughout, and whilst it is a sad day, I am pleased to have reached this settlement with the DoJ. We will continue our work to meet the highest ethical standards. It is what we owe our customers as well as ourselves.”

In addition to the fine, WWL has agreed to cooperate with the Department’s ongoing antitrust investigation into RORO price fixing.

Last December, China’s National Development and Reform Commission (NRDC) fined Seoul-based EUKOR US$44 million for anti-competitive behavior in the Chinese market.

Craig Jasienski, CEO and president of EUKOR commented at the time: “This is a regrettable and unfortunate situation. We are a proponent of fair and open competition and must adhere to the applicable laws in our operation…We will do everything possible to avoid similar situations going forward.”

EUKOR shareholders are Hyundai Motor and Kia Motors (20 percent), Wilh.Wilhelmsen (40 percent), and Wallenius Lines (40 percent).

News

Written on 22/03/2017, 22:12
new-ocean-carrier-alliances-to-shake-things-upGENEVA/BRUSSELS: March 22, 2017. The impending operation of three ocean box alliances on April 01 has prompted fears of capacity constraints and rising...
Written on 20/03/2017, 19:53
volga-dnepr-paid-former-u-s-national-security-advisorWASHINGTON, DC: March 20, 2017. As Congressional hearings begin on possible connections between the Trump presidential election bid and Russia, evidence...
Written on 17/03/2017, 20:55
lufthansa-group-reports-rise-in-net-profitFRANKFURT: March 16, 2017. The Lufthansa Group has reported a 4.6 rise in net profit to €1.77 billion in 2016 on a 1.2 percent drop in revenue to €31.66...
Written on 17/03/2017, 19:19
another-airline-level-for-iagBARCELONA: March 17, 2017. International Airlines Group (IAG) will begin flights from Barcelona to Los Angeles, Oakland, Punta Cana in the Dominican...
Written on 17/03/2017, 17:39
european-commission-re-imposes-cargo-finesBRUSSELS: March 17, 2017. The European Commission has renewed its decision to fine 11 airlines €776.46 million for operating an air cargo cartel between...
Written on 15/03/2017, 20:15
ups-continues-to-reduce-ghg-emissionsATLANTA, GA: March 15, 2017. UPS is to spend an additional US$90 million on expanding its U.S. natural gas fueling infrastructure and acquiring more...
Written on 14/03/2017, 21:13
air-cargo-stuck-in-the-16th-centuryABU DHABI: March 14, 2017. Speaking at the opening of the 11th World Cargo Symposium, IATA director general and CEO Alexandre de Juniac warned air cargo...
Written on 09/03/2017, 20:41
u-s-infrastructure-strong-risk-of-failureRESTON, VA: March 09, 2017. The American Society of Civil Engineers (ASCE) says restoring U.S. infrastructure to its competitive position will cost the...
Written on 08/03/2017, 19:52
zte-fined-over-a-us-1-billionDALLAS/ SHENZHEN: March 07, 2017. ZTE, a provider of telecommunications systems, mobile devices and enterprise technology solutions, has been fined...
Written on 07/03/2017, 22:51
no-additional-trade-tariffs-warns-mexicoDETROIT, MI: March 06, 2017. Addressing executives from the U.S. auto industry, Mexico Secretary of Commerce Ildefonso Guajardo Villarreal has reiterated...
Written on 07/03/2017, 20:38
maersk-and-ibm-to-launch-digital-trade-solutionARMONK, NY: March 06, 2017. Following ratification of the WTO's Trade Facilitation Agreement, IBM and Maersk are developing the use of blockchain...
Written on 06/03/2017, 20:36
dsv-signs-red-cross-agreementCOPENHAGEN: March 07, 2017. DSV and Denmark's Red Cross have signed a global logistics agreement that includes the donation of two warehouses. With a...
Written on 06/03/2017, 19:07
good-start-for-air-cargo-in-2017GENEVA: March 07, 2017. Noting an increase in the shipment of silicon materials, IATA reported a 9.0 percent year-on-year jump in airfreight...
Written on 03/03/2017, 21:33
iata-repeats-trump-warningWASHINGTON, DC: March 03, 2017. IATA has reiterated its warning to the Trump Administration about a future of restricted borders and protectionism. "Our...
Written on 02/03/2017, 22:52
america-first-for-tradeWASHINGTON, DC: March 02, 2017. With the confirmation of Trump's billionaire Florida neighbor Wilbur Ross as U.S. Commerce secretary, a recent Gallup poll...
Written on 27/02/2017, 22:24
us-400-billion-exposure-for-shipping-industryLONDON: February 27, 2017. New research suggests financial institutions supporting the global shipping industry have a US$400 billion exposure to future...
Written on 27/02/2017, 20:23
new-box-terminal-to-help-mexico-tradeLAZARO CARDENAS, MEXICO: February 27, 2017. The APM Terminals' facility at Lazaro Cardenas on Mexico's Pacific Coast has officially opened for business...
Written on 23/02/2017, 22:22
dubai-responds-to-humanitarian-crisisDUBAI: February 21, 2017. As the UN World Food Programme (WFP) and UNICEF declare a famine in South Sudan that threatens the lives of 100,000 people, the...
Written on 22/02/2017, 20:34
us-1-trillion-gain-from-trade-facilitation-agreementGENEVA: February 22, 2017. IATA says it welcomes the entry into force of the World Trade Organization's (WTO) Trade Facilitation Agreement (TFA),...
Written on 21/02/2017, 20:35
high-speed-crash-forecast-for-german-truckersBERLIN: February 21, 2017. The German Pro-Rail Alliance estimates the share of freight by rail in Germany dropped from 18 percent to 17.6 percent in 2016,...

- powered by Quickchilli.com -