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EU Accuses Shipping Companies of Forming Cartel

Apr.11.2007

On Wednesday April 11, 2007, the European Commission took a step forward in its investigation into shipping companies it claims have formed an anti-competitive cartel in the global carrier industry. The Commission sent statements of objections to the companies which accuses them of bid-rigging, price-fixing and exchanging confidential market information regarding the transportation of bulk liquids by sea. The letter also alleged that they colluded to restrict competition in the EU market. The letter follows a number of raids in February 2003. The companies have two months to respond to the E.C.'s letter and request oral hearings. This article can be found at: http://competition.law360.com/Secure/ViewArticle.aspx?id=22383

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