NYK Line to Pay $59.4 Million for Price Fixing on Ro-Ro Cargo
Japan-based ocean carrier Nippon Yusen Kabushiki Kaisha (NYK) agreed to pay a $59.4 million fine for conspiring to fix prices for roll-on roll-off cargo services, said the Justice Department on Jan. 5 (here). The steamship line pleaded guilty in Maryland…
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U.S. District Court to suppress competition by allocating customers and routes, rigging bids and fixing prices on ro-ro cargo to and from the U.S. between 2007 and 2012, said DOJ. NYK is the third carrier to plead guilty in DOJ’s investigation on price fixing in the ro-ro cargo industry, with Chilean Compañía Sud Americana de Vapores paying more than $10 million to settle similar charges in March 2014 (see 14030617). NYK’s guilty plea brings to total amount of fines collected to over $135 million.