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Shippers fined for pricing policy

24th September 1998, Page 8
24th September 1998
Page 8
Page 8, 24th September 1998 — Shippers fined for pricing policy
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Which of the following most accurately describes the problem?

• Fifteen of the world's largest shipping lines have been fined a total of El 82m by the European Commission for abusing their dominant market position. And they have been warned that they could face further fines from Brussels over the way they have imposed fixed prices on customers paying for European container haulage. Hauliers fear that the shippers, including Maersk, Sea-Land, P8,0 Nedlloyd, 00CL, NYK, Hapag Lloyd and Hyundai, will pass on any reductions in their income. Container rates are currently some of the lowest in the industry.