Latest news from Heavy Lift & Project Forwarding International Magazine

EC fines cartel

The European Commission (EC) has fined four shipping lines a total of EUR395 million (USD486.95 million) for colluding in the maritime transport of cars.

The EC found that the Chilean maritime carrier CSAV, the Japanese carriers "K" Line, Mitsui O.S.K. Lines (MOL) and NYK, and the Norwegian/Swedish carrier WWL-Eukor, participated in a cartel concerning intercontinental maritime transport of vehicles.

MOL received full immunity for revealing the existence of the cartel, thereby avoiding a fine of approximately EUR203 million (USD250.25 million).

According to the commission from October 2006 to September 2012, the five carriers formed a cartel in the market for deepsea transport of new cars, trucks and other large vehicles such as combine harvesters and tractors, on various routes between Europe and other continents.

The EC's investigation revealed that the carriers coordinated prices, allocated customers, and exchanged commercially sensitive information such as charges and surcharges added to prices to offset currency or oil prices fluctuations.

All companies acknowledged their involvement in the cartels and agreed to settle the cases.

 

www.nykline.com

www.csav.com 

www.kline.com 

www.eukor.com 

www.molpower.com 

www.europa.eu

Heavy Lift | News

Crowley realigns activities thumbnail image

Crowley realigns activities

May 17 - Crowley Maritime Corporation has realigned its shipping and solutions business units in a bid to enhance its focus on non-asset based customer solutions.
Views: 446
Bob Felix joins UTC thumbnail image

Bob Felix joins UTC

May 17 - UTC Overseas has appointed Bob Felix to its rail logistics team as director of specialised projects.
Views: 667
DEME awarded Hornsea project thumbnail image

DEME awarded Hornsea project

May 17 - DEME Offshore has been awarded a transport and installation contract for Ørsted’s Hornsea Two offshore wind farm, located approximately 89 km off the Yorkshire coast in the UK.
Views: 440
Qube in LCR takeover thumbnail image

Qube in LCR takeover

May 17 - Australia-based Qube Holdings has acquired industrial logistics service provider LCR Group in a deal valued at AUD135 million (USD93.2 million).
Views: 479

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.