Legal

CSAV, “K” Line, NYK and WWL-EUKOR in EUR 395 million fine

European Commission fines car carrier cartel; MOL receives full immunity for revealing the cartel avoiding EUR 203 million in fines.

Published

6 years ago

February 22, 2018

Admin

The European Commission (EC) on Wednesday fined four maritime car carriers a total of EUR 395 million for taking part in cartels, in breach of EU antitrust rules.

It is found the Chilean maritime carrier CSAV, the Japanese carriers "K" Line, MOL and NYK, and the Norwegian/Swedish carrier WWL-EUKOR participated in a cartel concerning the intercontinental maritime transport of vehicles.

According to the EC, the five carriers formed a cartel in the market for deep sea transport of vehicles on various routes between Europe and other continents for almost six years, from October 2006 to September 2012.

Investigation revealed that, to coordinate anticompetitive behaviour, the carriers' sales managers met at each other's offices, in bars, restaurants or other social gatherings and were in contact over the phone on a regular basis.

In particular, they coordinated prices, allocated customers and exchanged commercially sensitive information about elements of the price, such as charges and surcharges added to prices to offset currency or oil prices fluctuations.

The Commission's investigation started with an immunity application submitted by MOL.

"The Commission has sanctioned several companies for colluding in the maritime transport of cars and the supply of car parts,” said Commissioner Margrethe Vestager.

“The three separate decisions taken today show that we will not tolerate anticompetitive behaviour affecting European consumers and industries.
“By raising component prices or transport costs for cars, the cartels ultimately hurt European consumers and adversely impacted the competitiveness of the European automotive sector, which employs around 12 million people in the EU.”

The breakdown of the fines imposed on each company is as follows:

Company	Reduction under Leniency Notice	Reduction under Settlement Notice	Fine (EUR)
MOL	100%	10%	0
NYK	20%	10%	141,820,000
"K" LINE	50%	10%	39,100,000
WWL-EUKOR	20%	10%	207,335,000
CSAV	25%	10%	7,033,000

Publication date: 22 February, 2018

Business

Liberia-flagged bulker “Eleen Armonia” placed under Sheriff’s arrest

Ship was added to list of vessels under Sheriff’s arrest in Singapore’s court system and it is currently held at Eastern Bunkering Anchorage; arrest was made on behalf of Allen & Gledhill LLP.

Published

4 days ago

December 7, 2023

Admin

Liberia-flagged bulk carrier Eleen Armonia was arrested in Singapore waters on Monday (4 December).

The 55,522 DWT vessel was added to the list of vessels under Sheriff’s arrest in Singapore’s court system.

According to the list, the vessel was arrested at 12.25pm and the arresting solicitor listed was law firm Allen & Gledhill LLP. The ship is currently held at the Eastern Bunkering Anchorage.

No details regarding the reason behind the arrest were provided in the list.

Photo credit: Manifold Times
Published: 7 December, 2023

Crime

Malaysia: MMEA detains three vessels for illegal anchoring in East Johor waters

Vessels, including those registered in Barbados and Copenhagen, were detained on 4 December and captains of ships had failed to present any document of authorisation to anchor in Malaysian waters.

Published

5 days ago

December 6, 2023

Admin

Malaysia: MMEA detains three vessels for illegal anchoring in East Johor waters

The Malaysian Maritime Enforcement Agency (MMEA) on Tuesday (5 December) said three vessels have been detained for illegally anchoring in East Johor waters on 4 December.

MMEA Tanjung Sedili Zone acting director Maritime Cmdr Mohd Najib Sam said the first ship, registered in Port Klang, was detained by a patrol boat at 11.30 am at 19.8 nautical miles east of Tanjung Sedili Kechil.

The second ship, registered at Bridgetown in Barbados, anchored at 11.30am at 18.1 nautical miles northeast of Tanjung Penawar.

And the third ship, registered at Copenhagen, was detained by a MMEA patrol vessel at 5.30pm at 21.5 nautical miles east of Tanjung Balau.

Najib said all captains of the ships had failed to present any document of authorisation to anchor in Malaysian waters and the case will be investigated under Section 491B(1)(L) Merchant Shipping Ordinance 1952.

He added that the detention of all three ships has brought the total number of ships detained for the same offence so far this year to 86.

Photo credit: Malaysian Maritime Enforcement Agency
Published: 6 December, 2023

Winding up

Singapore: Annual general meetings set for Hua Sheng Shipping Pte Ltd

Creditors to receive an update on the liquidation of the firms, and to receive an account of the liquidators’ acts and dealings, and of the conduct of winding up.

Published

7 days ago

December 4, 2023

Admin

An annual general meeting for Hua Sheng Shipping Pte Ltd will be held via electronic means on 14 December 2023, according to a notice on the Government Gazette on Thursday (30 November).

The agenda of the meetings for the creditors (2pm) and contributories (11am) for the following purposes:

To receive an update on the liquidation.
To receive an account of the Liquidators’ acts and dealings, and of the conduct of the winding up

The following are the details of the liquidator of the company:

Ho May Kee
Liquidator
c/o 8 Marina View
#40-04/05 Asia Square Tower 1
Singapore 018960

Manifold Times previously reported several notices were published on the Goverment Gazette regarding the annual general meetings held electronically for Hua Sheng Shipping Pte Ltd, Nan Zhou Maritime (Pte) Ltd and Xin Sheng Shipping (Pte) Ltd.

Photo credit: Benjamin child
Published: 4 December, 2023