”NYK has had its fair share of cartel strife of late,” reports Vessel Finder. ”In March this year an NYK employee in the US was jailed for 15 months following a car carrier price fixing probe. In March 2014 Japan’s Fair Trade Commission ordered NYK to pay Y13bn ($12.2m) on another price fixing misdemeanor.”
Japan’s Nippon Yusen Kaisha (NYK) is in trouble in Australia where the competition watchdog has launched a criminal prosection into NYK’s “cartel behavior”, according to The Australian newspaper.
The Australian Competition and Consumer Commission filed a criminal indictment of NYK on Thursday. No details of the case have been revealed yet.
If found guilty, NYK faces hefty fines of up to A$10m ($7.64m), 10% of its annual turnover or three times their ill-gotten gains, whichever is larger, while individuals can be jailed for up to 10 years.
