Record Fine Imposed on Kawasaki Kisen over Cartel in Australia

Economy

Sydney, Aug. 2 (Jiji Press)--The Federal Court of Australia has fined Japanese shipping giant Kawasaki Kisen Kaisha Ltd. <9107> 34.5 million Australian dollars for forming a price cartel for the transportation of vehicles, Australia's antitrust watchdog said Friday.

The fine is a record for a price-fixing scheme punished in the country.

The Australian Competition and Consumer Commission has filed criminal charges against the company.

According to the ruling, Kawasaki Kisen fixed fees with other shipping companies for the transportation of passenger cars, trucks and buses to Australia between 2009 and 2012.

Another major Japanese shipping company, Nippon Yusen K.K. <9101>, was ordered to pay a penalty of 25 million Australian dollars in August 2017 over a similar price cartel.

[Copyright The Jiji Press, Ltd.]

Jiji Press