Norway’s Wallenius Wilhelmsen has become the third car carrying firm busted by the Australian Competition & Consumer Commission (ACCC), accused of cartel conduct. Australia’s Federal Court will take up the case next week.
“Whilst we regret that it has come to this, we are happy to see this matter now proceeding formally. The company is cooperating with the ACCC in this investigation and will continue to work with the normal processes of the court to bring this to a conclusion,” Wallenius Wilhelmsen stated in a release to the Oslo Bors.
Earlier this month, Japan’s Kawasaki Kisen Kaisha (K Line) was handed a fine of A$34.5m ($23.5m) having pleaded guilty to similar charges facing Wallenius Wilhelmsen. The fine dished out to K Line was the largest ever criminal fine imposed under Australia’s Competition and Consumer Act.
Other car carrier cartel investigations have been ongoing around the world over the past five years.