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Japanese shipping company pleads guilty to cartel conduct in Australian court

Xinhua, July 18, 2016 Adjust font size:

Japanese shipping company Nippon Yusen Kabushiki Kaisha faces a possible 10-million-Australian-dollar fine after pleading guilty to allegations of criminal cartel practices in Australia on Monday brought by the nation's consumer watchdog.

Japan's Nippon Yusen Kabushiki Kaisha (NYK) have the honour of becoming the first successful prosecution by the Australian Consumer and Competition Commission (ACCC) for alleged cartel behaviour after the regulator was given expanded power in 2009.

"This is the first criminal charge laid against a corporation under the criminal cartel provisions of the Competition and Consumer Act," Sims said in a statement on Monday after NYK pleaded guilty in Australia's Federal Court.

"This matter relates to alleged cartel conduct in connection with the transportation of vehicles, including cars, trucks, and buses, to Australia between July 2009 and September 2012."

For their actions, NYK faces the greater of either a 10-million-Australian-dollar (7.59-million-U.S.-dollar) fine, three times the financial benefit obtained from their behaviour or 10 percent of their total turnover on Australian shores.

The ACCC hasn't ruled out further charges to cartel participants as investigations are ongoing.

The global freight has been prosecuted in other jurisdictions, including in Japan and the United States for cartel behaviour over car transport. Endit