(Join our newsfeed at http://www.MaritimeCyprus.com) Australia’s Federal Court has convicted Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) of criminal cartel conduct and ordered it to pay a fine of A$25 million ($19.8 million).
NYK was charged with giving effect to cartel provisions in an arrangement or understanding with other shipping lines relating to the transportation of motor vehicles to Australia between 2009 and 2012.
The cartel operated from at least February 1997 and affected vehicles transported to Australia by NYK and other shipping lines from locations in Asia, the U.S. and Europe on behalf of major car manufacturers including Nissan, Suzuki, Honda, Toyota and Mazda.
NYK entered a guilty plea in July 2016. Justice Wigney stated the fine “incorporates a global discount of 50 percent for NYK’s early plea of guilty and past and future assistance and cooperation, together with the contrition inherent in the early plea…
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