Showing posts with label Cartels shipping vehicles. Show all posts
Showing posts with label Cartels shipping vehicles. Show all posts

Monday, April 22, 2019

SHIPPING RACKET UNRAVELS

One of  the many vessels in the  ghost fleet  which  passed through  Townsville  in recent weeks   was   the  stand  out  vehicle carrier  Talia , 199.95metres long x 32.5  metres , flying  under the  Bahamas  flag . A considerable number of  vehicle carriers    pass   through   Townsville ,  some  of  them proven to have belonged to   a  criminal   shipping    cartel ,  which   meant  Australia was    being  slugged   by   price  fixing   of   roll-on roll  off   transport   costs  .
 
 As a matter of fact, the  Norwegian  line  Wallenius  Willhelmsen  Logistics   was  fined   $US 98.9 million  , $130 million Australian ,when it pleaded  guilty to   cartel  price  fixing . The US Department of Justice  reported  four companies , including  NYK ( Nippon Yusen Kabushiki Kaisha ) , the   world's  fourth biggest shipping group , seen in Townsville ,   had  pleaded guilty  to participating in a  roll-n roll-off    cartel   and    fined  a  total  of  $230 million .
 
 An NYK  executive was jailed for  15 months  and the  Japan Fair Trade Commission  ordered the company  pay  a  fine of   13 billion yen ( $160 million )   for  fixing prices on routes which included between  Japan and Australia .  In 2017 the Australian Federal Court  fined  NYK $25 million  for  its involvement in   fixing  the   price of  car  transport  to Australia .
 
With information supplied by America , the Australian  Competition and Consumer  Commission (ACCC)  a second Japanese  company in the cartel , the K-Line, has pleaded guilty  and   will be  sentenced  in  the  near  future .  
 
Other   cartels  are  under   investigation  in  Australia with much  information flooding  into  the  ACCC, its  operations  to  be  extended.