Today Maersk Line and the Federal Antimonopoly Service of the Russian Federation (FAS) agreed to settle a competition case regarding Maersk Line and other shipping lines’ use of price announcements to the Russian market.
The agreement is subject to payment of a settlement fee of approximately $230,000 by Maersk Line. As part of the settlement agreement, the previous FAS decision on a fine of approximately $12m will be terminated.
In the case FAS found no evidence of cartel behavior, but under a unique provision in Russian Competition Law, FAS had initially concluded that Maersk Line and the other shipping lines’ use of price announcements constituted a non-cartel concerted action. The case was originally opened in 2013.
“The case concerned a unique Russian provision that does not exist in other countries. This agreement shows the commitment of both parties to find a solution that creates clarity for the future. We look forward to continuing our engagements in Russia”, said Camilla Jain Holtse, head of competition law at Maersk Line.
In the proposed agreement, Maersk Line committed to cease public price announcements for cargo to Russian ports. Instead, customers will receive price information for Russia specific corridors via email or a password protected webpage.
Further, Maersk Line has offered and will sign up to voluntary industry guidelines for price announcements.