Commission inquiry nets shipping lines - Independent Online
Johannesburg - A Competition Commission investigation has implicated nine international shipping companies in the prohibited practices of price fixing, market division and collusive tendering for the transportation of vehicles, equipment and... Those implicated include three Japan-based companies in Mitsui OSK Lines, Nippon Yusen Kabushiki Kaisha (NYK) and Kawasaki Kisen Kaisha (K-Line), Chilean-based Compañía Sudamericana de Vapores, Norwegian-based Höegh Autoliners and Wallenius... It is alleged these companies agreed to fix prices, divide markets and collude on tenders issued by a number of companies, including Toyota Motor Corporation (TMC) and Toyota South Africa Motors (TSAM). Volkswagen and Volkswagen South Africa. Nissan Motor Corporation through its Renault-Nissan Purchasing Organisation. Ford Motor Company of Southern Africa. Inflated shipping costs would contribute to increased vehicle prices in South Africa and also dent the country’s export competitiveness. In terms of these agreements, which have not yet been confirmed by the tribunal, WWL admitted to 11 instances of engaging in prohibited practices and agreed to pay a fine of R95. 69 million. NYK also admitted to engaging in prohibited practices on 14 occasions and to pay a fine of R103. 97m. Anthony Ndzabandzaba, who was part of the commission’s investigation team, told the tribunal on Wednesday that there were a number of respondents... Source: www.iol.co.za
