Singapore’s competition watchdog has imposed penalties over US$7 million on 10 Japanese freight forwarders for price fixing.
The Competition Commission of Singapore (CCS) said in a statement that 11 companies were fixing prices and exchanging price and customer information concerning air freight forwarding services for the Japan-Singapore route. DHL was the only freight forwarder to escape being penalised as it qualified for full immunity under CCS’s leniency programme. The programme offers either immunity from or a reduction in financial penalties in exchange for full disclosure of the cartel and cooperation during CCS’ investigation.
The 10 companies fined were Hankyu Hanshin Express, “K” Line Logistics, Kintetsu World Express, MOL Logistics, Nippon Express, Nishi-Nippon Railroad, Nissin Corp, Vantec Corp, Yamato Holdings and Yusen Logistics.
Japanese freight forwarders received the highest penalties: Nippon Express incurred a financial penalty of US$2,072,386, while Yusen was fined US$2,035,995.