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NYK, K-Line fined $1.4 million for conspiring to reduce competition in vehicle shipping services to Canada

( August 17, 2023, 20:27 GMT | Official Statement) -- MLex Summary: Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha were respectively fined C$1.5 million ($1.1 million) and C$460,000 ($339,618) by the Ontario Superior Court for their role in an international conspiracy that reduced competition for the shipment of vehicles to Canada, the Competition Bureau announced. The companies admitted to agreeing with certain suppliers to increase the base freight rates they proposed to certain vehicle manufacturers in Japan for the supply of “roll-on/roll-off” services for shipments to Canada, in relation to fiscal year 2008 contract negotiations.Statement follows in full. ...

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