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NYK slapped with huge fine Down Under

NYK slapped with huge fine Down Under

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The Federal Court in Australia has convicted Japanese shipping company Nippon Yusen Kaisha (NYK) of criminal cartel conduct over its car carrying activities and ordered it to pay a fine of A$25m ($20m): the second-highest imposed in Australian Competition and Consumer Commission (ACCC) history.

ACCC chairman Rod Sims commented: “The Australian community relies heavily on imported vehicles, so a longstanding cartel in relation to the transportation of those vehicles to Australia was of significant concern.”

Justice Wigney stated the fine “incorporates a global discount of 50% for NYK’s early plea of guilty and past and future assistance and cooperation, together with the contrition inherent in the early plea and cooperation: meaning that but for the early plea and past and future cooperation, the fine would have been A$50m”.

“The sentence imposed on NYK by the Federal Court today sends a strong warning to the industry and the business community at large. The CDPP and ACCC can and will criminally prosecute cartel conduct. It also highlights that parties who engage early and cooperate with the authorities may be shown leniency,” ACCC’s Sims said.

Other shipping lines are likely to be hit with fines from the same Australian court soon.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Amberbock Mike
    August 5, 2017 at 1:03 am

    Uh o….liability from years past means it is not prudent to ship to Oz….Where the government determines market rates, not the market.