Mexico: Five shipping companies settle fines for monopolistic practices

Five out of seven international shipping companies that were sanctioned last May by the Federal Economic Competition Commission (COFECE) after committing absolute monopolistic practices in the maritime transport market have voluntarily complied with payment of the fines imposed on them.

CSAV, K Line, K Line America, MOL, Mitsui OSK Bulk Shipping, NYK and Wallenius Wilhlmsen Logistics entered into 9 collusive agreements between 2009 and 2012, but in some cases they remained in place until 2015 in order parcel out shipping routes that included Mexico as a point of origin or as a destination.

This is the first time international economic agents – with foreign residency and without representation in Mexico – pay fines imposed as a penalty in matters of economic competition. At the time, and given the illegal conduct that increased costs of services to the automotive industry, COFECE’s board imposed fines to each of the participants of this agreement for approximately US$32.7million.

Full Content: Mundo Maritimo

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