EU and US Join Japan in Antitrust Raid of Leading Car Carrier Operators UPDATE – gCaptain
EU and US Join Japan in Antitrust Raid of Leading Car Carrier Operators [UPDATE]
September 7, two thousand twelve by gCaptain
UPDATE 1: The EU and US have joined Japan’s antitrust probe of some of the world’s leading car carrier operators.
Wallenius Wilhelmsen Logistics said in a statement Friday that it has also received requests for information from the E.U. Commission and both Wallenius Wilhelmsen Logistics and EUKOR have received requests for information from federal U.S. authorities and the Competition Bureau Canada.
In a statement, the EU’s antitrust unit confirmed that raids were carried out at “the premises of several providers of maritime-transport services for cars and construction and agricultural rolling machinery.”
Meantime, Gina Talamona, a spokeswoman for the Justice Department in Washington, also confirmed in an e-mail that the agency`s antitrust division «is investigating the possibility of anticompetitive practices involving the ocean shipping of cars, trucks, construction equipment and other products.»
«We are coordinating with the European Commission, the Japanese Fair Trade Commission and other international competition authorities,» Talamona said, declining to elaborate further.
(Bloomberg) – Japan`s antitrust regulator raided the offices of five shipping lines, including Nippon Yusen K.K. and Wilh. Wilhelmsen ASA, that control about seventy percent of the global market for carrying cars.
Wallenius Wilhelmsen Logistics, a unit of Wilhelmsen, is being investigated in Japan for a possible breach of an anti- monopoly act that involves price fixing, Benedicte Gude, a Lysaker, Norway-based spokeswoman for the company, said in a phone interview today. Nippon Yusen, Mitsui O.S.K. Lines Ltd., Kawasaki Kisen Kaisha Ltd. and Eukor Car Carriers Inc. also said their offices were searched.
Nippon Yusen, the world`s thickest proprietor of car-carrying vessels, plunged Five.Three percent to one hundred forty four yen, its lowest since at least 1974, at the close of trading in Tokyo. About ten shipping lines are suspected of discussing raising rates together for transporting cars to the U.S., Europe and other parts of Asia from Japan since 2008, Kyodo News reported, without telling where it got the information.
«The key to observe is what kind of fine will be imposed if the commission confirms the allegations,» said Minoru Matsuno, president of Value Search Asset Management Co., a Tokyo-based investment advisory stiff. «It`s difficult to imagine it will cause a vital suck to the companies given their finances.»
The Fair Trade Commission officials entered Nippon Yusen`s offices earlier today and the company is cooperating with the investigation, the shipping line`s spokesman Jiro Tanida said by telephone. Nippon Yusen isn`t aware of the reason for the search, he said.
Offices of Mitsui O.S.K., Japan`s second-largest car carrier, were searched by the commission and the shipping line is cooperating, spokesman Yasuyuki Fukuma said by phone. Kawasaki Kisen spokesman Jitsuo Narita and Eukor Car Carriers Inc. spokesman Osamu Tani also said their companies` offices were searched.
Isao Kasubuchi, director of the management and planning division at Japan Fair Trade Commission, declined to comment on the investigation.
The five companies are the world`s five largest car- carrying lines, controlling about seventy percent of the global market, according to Nomura Holdings Inc.
Mitsui O.S.K. declined Two.7 percent to one hundred eighty one yen, while Kawasaki Kisen, Japan`s third-largest shipping company, was unchanged at close of trading. Wilhelmsen fell Two.8 percent to 45.7 Kroner at 9:54 a.m. in Oslo.
Nippon Yusen transported Two.92 million vehicles in the fiscal year ended March 31, according to the company. The carrier has predicted it will carry fifteen percent more vehicles this fiscal year. The shipping line also forecast a rebound to profit of twenty billion yen ($255 million) in the year.
EU and US Join Japan in Antitrust Raid of Leading Car Carrier Operators UPDATE – gCaptain
EU and US Join Japan in Antitrust Raid of Leading Car Carrier Operators [UPDATE]
September 7, two thousand twelve by gCaptain
UPDATE 1: The EU and US have joined Japan’s antitrust probe of some of the world’s leading car carrier operators.
Wallenius Wilhelmsen Logistics said in a statement Friday that it has also received requests for information from the E.U. Commission and both Wallenius Wilhelmsen Logistics and EUKOR have received requests for information from federal U.S. authorities and the Competition Bureau Canada.
In a statement, the EU’s antitrust unit confirmed that raids were carried out at “the premises of several providers of maritime-transport services for cars and construction and agricultural rolling machinery.”
Meantime, Gina Talamona, a spokeswoman for the Justice Department in Washington, also confirmed in an e-mail that the agency`s antitrust division «is investigating the possibility of anticompetitive practices involving the ocean shipping of cars, trucks, construction equipment and other products.»
«We are coordinating with the European Commission, the Japanese Fair Trade Commission and other international competition authorities,» Talamona said, declining to elaborate further.
(Bloomberg) – Japan`s antitrust regulator raided the offices of five shipping lines, including Nippon Yusen K.K. and Wilh. Wilhelmsen ASA, that control about seventy percent of the global market for carrying cars.
Wallenius Wilhelmsen Logistics, a unit of Wilhelmsen, is being investigated in Japan for a possible breach of an anti- monopoly act that involves price fixing, Benedicte Gude, a Lysaker, Norway-based spokeswoman for the company, said in a phone interview today. Nippon Yusen, Mitsui O.S.K. Lines Ltd., Kawasaki Kisen Kaisha Ltd. and Eukor Car Carriers Inc. also said their offices were searched.
Nippon Yusen, the world`s fattest proprietor of car-carrying vessels, plunged Five.Trio percent to one hundred forty four yen, its lowest since at least 1974, at the close of trading in Tokyo. About ten shipping lines are suspected of discussing raising rates together for transporting cars to the U.S., Europe and other parts of Asia from Japan since 2008, Kyodo News reported, without telling where it got the information.
«The key to witness is what kind of fine will be imposed if the commission confirms the allegations,» said Minoru Matsuno, president of Value Search Asset Management Co., a Tokyo-based investment advisory rock hard. «It`s difficult to imagine it will cause a vital deepthroat to the companies given their finances.»
The Fair Trade Commission officials entered Nippon Yusen`s offices earlier today and the company is cooperating with the investigation, the shipping line`s spokesman Jiro Tanida said by telephone. Nippon Yusen isn`t aware of the reason for the search, he said.
Offices of Mitsui O.S.K., Japan`s second-largest car carrier, were searched by the commission and the shipping line is cooperating, spokesman Yasuyuki Fukuma said by phone. Kawasaki Kisen spokesman Jitsuo Narita and Eukor Car Carriers Inc. spokesman Osamu Tani also said their companies` offices were searched.
Isao Kasubuchi, director of the management and planning division at Japan Fair Trade Commission, declined to comment on the investigation.
The five companies are the world`s five largest car- carrying lines, controlling about seventy percent of the global market, according to Nomura Holdings Inc.
Mitsui O.S.K. declined Two.7 percent to one hundred eighty one yen, while Kawasaki Kisen, Japan`s third-largest shipping company, was unchanged at close of trading. Wilhelmsen fell Two.8 percent to 45.7 Kroner at 9:54 a.m. in Oslo.
Nippon Yusen transported Two.92 million vehicles in the fiscal year ended March 31, according to the company. The carrier has predicted it will carry fifteen percent more vehicles this fiscal year. The shipping line also forecast a rebound to profit of twenty billion yen ($255 million) in the year.
EU and US Join Japan in Antitrust Raid of Leading Car Carrier Operators UPDATE – gCaptain
EU and US Join Japan in Antitrust Raid of Leading Car Carrier Operators [UPDATE]
September 7, two thousand twelve by gCaptain
UPDATE 1: The EU and US have joined Japan’s antitrust probe of some of the world’s leading car carrier operators.
Wallenius Wilhelmsen Logistics said in a statement Friday that it has also received requests for information from the E.U. Commission and both Wallenius Wilhelmsen Logistics and EUKOR have received requests for information from federal U.S. authorities and the Competition Bureau Canada.
In a statement, the EU’s antitrust unit confirmed that raids were carried out at “the premises of several providers of maritime-transport services for cars and construction and agricultural rolling machinery.”
Meantime, Gina Talamona, a spokeswoman for the Justice Department in Washington, also confirmed in an e-mail that the agency`s antitrust division «is investigating the possibility of anticompetitive practices involving the ocean shipping of cars, trucks, construction equipment and other products.»
«We are coordinating with the European Commission, the Japanese Fair Trade Commission and other international competition authorities,» Talamona said, declining to elaborate further.
(Bloomberg) – Japan`s antitrust regulator raided the offices of five shipping lines, including Nippon Yusen K.K. and Wilh. Wilhelmsen ASA, that control about seventy percent of the global market for carrying cars.
Wallenius Wilhelmsen Logistics, a unit of Wilhelmsen, is being investigated in Japan for a possible breach of an anti- monopoly act that involves price fixing, Benedicte Gude, a Lysaker, Norway-based spokeswoman for the company, said in a phone interview today. Nippon Yusen, Mitsui O.S.K. Lines Ltd., Kawasaki Kisen Kaisha Ltd. and Eukor Car Carriers Inc. also said their offices were searched.
Nippon Yusen, the world`s fattest possessor of car-carrying vessels, plunged Five.Trio percent to one hundred forty four yen, its lowest since at least 1974, at the close of trading in Tokyo. About ten shipping lines are suspected of discussing raising rates together for transporting cars to the U.S., Europe and other parts of Asia from Japan since 2008, Kyodo News reported, without telling where it got the information.
«The key to witness is what kind of fine will be imposed if the commission confirms the allegations,» said Minoru Matsuno, president of Value Search Asset Management Co., a Tokyo-based investment advisory rigid. «It`s difficult to imagine it will cause a vital gargle to the companies given their finances.»
The Fair Trade Commission officials entered Nippon Yusen`s offices earlier today and the company is cooperating with the investigation, the shipping line`s spokesman Jiro Tanida said by telephone. Nippon Yusen isn`t aware of the reason for the search, he said.
Offices of Mitsui O.S.K., Japan`s second-largest car carrier, were searched by the commission and the shipping line is cooperating, spokesman Yasuyuki Fukuma said by phone. Kawasaki Kisen spokesman Jitsuo Narita and Eukor Car Carriers Inc. spokesman Osamu Tani also said their companies` offices were searched.
Isao Kasubuchi, director of the management and planning division at Japan Fair Trade Commission, declined to comment on the investigation.
The five companies are the world`s five thickest car- carrying lines, controlling about seventy percent of the global market, according to Nomura Holdings Inc.
Mitsui O.S.K. declined Two.7 percent to one hundred eighty one yen, while Kawasaki Kisen, Japan`s third-largest shipping company, was unchanged at close of trading. Wilhelmsen fell Two.8 percent to 45.7 Kroner at 9:54 a.m. in Oslo.
Nippon Yusen transported Two.92 million vehicles in the fiscal year ended March 31, according to the company. The carrier has predicted it will carry fifteen percent more vehicles this fiscal year. The shipping line also forecast a rebound to profit of twenty billion yen ($255 million) in the year.
