Giant global shipping lines ran a cartel for importing cars into Australia in a “deliberate, systematic” scheme resulting in a landmark conviction for one company and a US$25 million fine.
In the first case of its kind, Federal Court Justice Michael Wigney said Japanese company Nippon Yusen Kabushiki Kaisha (NYK) had admitted colluding with other shipping lines for contracts to import cars.
NYK, headquartered in Tokyo, is one of the world’s largest shipping conglomerates.
The Australian Competition and Consumer Commission alleged that company and other carriers had struck a deal that they would not seek to alter their market shares or try to win existing business from each other.
The cartel affected vehicles transported to Australia by NYK and other shipping lines from Asia, the US and Europe, on behalf of major carmakers including Nissan, Suzuki, Honda, Toyota and Mazda.
Full Content: Business Times
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