The Competition Commission has reached a settlement with Japanese shipping line, Nippon Yusen Kabushiki Kaisha Ltd (NYK), for “price fixing, market allocation and collusive tendering” in the transportation of cars to and from South Africa.
Under the settlement agreement, NYK admitted to “collusive conduct” and agreed to pay an administrative penalty of R104 million, the industry watchdog said in a statement.
The settlement follows the Commission’s investigation into collusive conduct against shipping liners Mitsui O.S.K Lines, Kawasaki Kisen Kaisha Ltd (“K” Line), Compania Sud Americana de Vapores (CSAV), Hoegh Autoliners Holdings AS, Wallenius Wilhelmsen Logistics, Eukor Car Carriers and NYK.
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