HMM, Maersk company and 21 carriers fined for illegal price fixing

South Korea's Fair Trade Commission (FTC) hands out fines to 23 carriers, including HMM and a Maersk company, for illegal collaboration on price fixing up until 2018. Maersk confirms the matter to ShippingWatch. Updated.

Yonhap reports that HMM is among 23 companies fined by South Korea's competition authorities. | Photo: PR/HMM

23 shipping lines, including HMM and a Maersk company, have been fined by South Korea's competition authorities for illegal collaboration on freight prices over a 15-year period until December 2018, writes South Korean media Yonhap.

The fines total a sum of KRW 96.2bn (USD 80.7m) and were issued by the South Korean Fair Trade Commission (FTC). Since 2018, the competition authority has been examining allegations of illegal collaboration between HMM and 22 domestic and foreign container lines that allegedly sought to increase rates on Southeast Asian routes.

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