China has fined 8 Maritime carriers at $63 million for price fixing

Moscow. December 28. Chinese antitrust regulator has fined eight companies engaged in marine transport, for a total amount of 407 million yuan ($63 million), accusing them of cartel collusion for the purpose of overcharges for the transportation of vehicles and heavy equipment, reported Bloomberg.

By results of check by the State Commission for development and reform Commission (NDRC), the main function of which is to control prices in China, recognized a number of the companies guilty of deliberately overcharging for their services. The fines were subjected to Japanese Nippon Yusen KK, Mitsui OSK Lines, Kawasaki Kisen Kaisha Eastern Car and Loner Ltd., Korean Eucor Car Carriers, Wallenius Wilhelmsen Norwegian and Chilean Cia. Sud Americana de Vapores SA and its subsidiary. All the company acknowledged the breach.

Earlier, similar investigations had been conducted by the antitrust regulators of Japan and the European Union.

Chinese regulators are increasingly using antitrust legislation passed in 2008 in the fight against rising prices. The biggest recently was the fine imposed on manufacturers of dairy products and baby food for these imported goods was observed the special demand after the scandal with contaminated products manufactured in China. Then the sum of penalties of six companies amounted to about $100 million.