Freight News, Sea

Maersk settles Russian competition case

[ February 10, 2017   //   Chris ]

Maersk Line has settled a competition case with Russia’s Federal Antimonopoly Service over it and other shipping lines’ use of price announcements in the local market. The agreement is subject to payment of a settlement fee of about US$230,000 by Maersk Line but a previous FAS $12 million fine will be cancelled.

In the case, opened in 2013, FAS found no evidence of cartel behavior, but under a unique provision in Russian Competition Law, FAS had initially concluded that Maersk Line and the other shipping lines’ use of price announcements constituted a non-cartel concerted action.

Under the proposed agreement, Maersk Line also ncommits to end public price announcements for cargo to Russian ports. Instead, customers will receive price information for Russia specific corridors via email or a password protected webpage.

It will also sign up to voluntary industry guidelines for price announcements.

 

Tags: Maersk