Russian Far East carriers charged over price-fixing
Friday, 25 November 2011 | 11:00
The Federal Antimonopoly Service has found that FESCO Lines Vladivostok Limited (FLV Ltd.) and JSC Sakhalin Shipping Company conspired in 2010 to raise simultaneously the fees for container shipments on Vladivostok - Magadan - Vladivostok loop and to fix prices for the service for a certain period of time, the antitrust agency said.
The FAS regional Magadansk office that conducted investigation into a price-fixing case has established that the carriers violated the Russian Federation antimonopoly legislation (Part 1, Article 11 of the Federal Law "On Protection of Competition").
The antitrust agency ordered a group of the Far East carriers, including Far East Shipping Company, FLV, FESCO Integrated Transport and Sakhalin Shipping Company to recalculate their tariffs for seaborne container transportation on the route Vladivostok-Magadan-Vladivostok and establish fair prices that would correspond to their individual costs and profits.
Source: Port News
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