14 Maret 2013

[140313.EN.AIR] 'K' Line, NYK Forwarders Fined US$18.9 Million In Air Cargo Price Fixing


JAPANESE freight forwarders, "K" Line Logistics and Yusen Logistics will pay US$18.9 million in criminal charges over price-fixing of air cargo rates between 2000-2006 to add to a total of 16 forwarders charged.

The continuing inquiry stems from US Department of Justice's anti-cartel investigation from 2006 of price-fixing by airlines reaching fines totalling a $1 billion, reported American Shipper.

The Japanese forwarders were guilty of conspiring to fix security and fuel surcharges on forwarding services between Japan and the US. "K" Line Logistics will pay $3.5 million and Yusen Logistics fine totals $15.42 million.

The anti-cartel investigation on price-fixing is US Justice Department priority, said its antitrust chief Bill Baer. "Consumers were forced to pay higher prices on the goods they buy every day as a result of the non-competitive and collusive service fees charged by these companies," he said.

Source : HKSG.

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