EU fines Asian shippers

EU fines Asian shippers

BRUSSELS (Reuter): The European Commission said yesterday it
had banned an inland transport price-fixing agreement by the Far
Eastern Freight Conference (FEFC) of shipping companies operating
Europe-Asia container transport.

The Commission fined the following companies a symbolic 10,000
European currency units (US$12,000) each: Denmark's AP Moller-
Maersk Line, Britain's P&O Containers Limited and Orient Overseas
Containers, Japan's Nippon Yusen Kaisha, Singapore's Neptune
Orient lines, Companie Generale Maritime, Hapag-Lloyd
Aktiengesellschaft, Croatia Line, Kawasaki Kisen Kaisha Ltd,
Lloyd Triestino di Navigatizione SpA, Malaysian International
Shipping, Mitsui OSK Lines, and Nedlloyd Lijnen.

The Commission said the FEFC violated EU competition rules.