The Competition Commission of South Africa has reached a settlement agreement with K-Line, under which the Japanese company will pay a 98 million rand (US$5.9 million) fine for its role in the global roll-on, roll-off shipping cartel.
The vehicles were for export to Europe, North America, the Mediterranean coast, and the Caribbean islands via Europe, West Africa, East Africa, and Latin America.
Sipho Ngwema, the head of communications at the Commission, said on Tuesday, August 21, that although the Commission charged K-Line with 15 separate instances of contraventions of the Competition Act, the company had only admitted to eight contraventions.
K-Line’s settlement agreement with the Commission still has to be confirmed by the Competition Tribunal.
Full Content: Container News
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