K-Line Guilty of 'cartel conduct'

August 2, 2019

File Image: a K Line coal Carrier (CREDIT: K Line)
File Image: a K Line coal Carrier (CREDIT: K Line)

Japanese shipping firm Kawasaki Kisen Kaisha Ltd (K-Line) was convicted of criminal cartel conduct and ordered to pay a A$34.5 million ($23.50 million) fine by a federal court, Australia's competition regulator said on Friday.

K-Line’s fine is the largest ever criminal penalty imposed under the Competition and Consumer Act, according to the Australian Competition and Consumer Commission (ACCC).

The company was found to have engaged in a cartel with other shipping companies in order to fix prices on the transportation of cars, trucks, and buses to Australia between 2009 and 2012, ACCC said.

K-Line pleaded guilty to the charges last year following a criminal investigation by the ACCC, and is the second Japanese shipping company to be convicted of cartel conduct by a Australian court.(reut.rs/2ysLcBM)

In 2017, Nippon Yusen Kabushiki Kaisha was convicted by Australia's Federal Court and fined A$25 million ($20 million) for its part in the activity.

Kawasaki Kisen Kaisha could not be immediately reached for a comment by Reuters.

Reporting by Niyati Shetty

Logistics News

US Grain Shipments Surge 9% in face of Chinese Tariffs

US Grain Shipments Surge 9% in face of Chinese Tariffs

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Consilium Safety Group Appoints New Chairman of the Board

Consilium Safety Group Appoints New Chairman of the Board

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

Subscribe for Maritime Logistics Professional E‑News

Sydney's wild storm disrupts flights and leaves thousands without power
MMC Port is getting closer to launching Malaysia’s largest IPO in the last 13 years
INDIA RUPEE - Rupee slips and volatility expectations are unruffled due to the looming deadline for tariffs