NYK Fined $8.5 Million in South Africa Price-Fixing Scheme

South Africa’s competitors watchdog says it has reached a settlement with Japanese transport agency Nippon Yusen Kabushiki Kaisha Ltd (NYK) for worth fixing, market allocation and collusive tendering within the transportation of automobiles to and from South Africa.

Under the settlement settlement, NYK admitted to to the collusive conduct and agreed to pay an administrative penalty of 104 million Rand (US$8.56 million), South Africa’s Competition Commission mentioned Tuesday.

The settlement follows the Commission’s investigation of collusive conduct towards transport liners Mitsui O.S.Okay Lines, Kawasaki Kisen Kaisha Ltd (“K” Line), Compania Sud Americana de Vapores (CSAV), Hoegh Autoliners Holdings AS, Wallenius Wilhelmsen Logistics, Eukor Car Carriers, NYK. The Commission alleges that the businesses fastened costs, divided markets and tendered collusively in respect of the supply of deep sea transportation companies, particularly the transportation of motor autos, gear and equipment by sea to and from South Africa.

The Commission mentioned its investigation discovered that NYK colluded on 14 tenders with its rivals for the transportation of automobiles issued by a number of automotive producers to and from South Africa, together with BMW, Toyota Motor Corporation, Nissan, and Honda amongst others.

The settlement settlement has been submitted to the Competition Tribunal for affirmation.

The Commission says its investigation is constant towards the remainder of the respondents.