Jim Mulrenan London
Price-fixing arrangements among the four biggest carriers of cars in the Far East-to-Europe trade are to be abandoned with immediate effect.
Wallenius Wilhelmsen is withdrawing outright from the Far Eastern Freight Conference (FEFC). NYK, Mitsui OSK and K Line remain in FEFC but will cease price-fixing in respect of deep-sea car transportation.
The European Commission (EC) uncovered the practice during its investigation into Wallenius Wilhelmsen's takeover of Hyundai Merchant Marine's vehicle transportation business.
Liner-shipping
