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Indiaexportnews.com

Two Norwegian shipping executives indicted in US for price-fixing

  03.07.2019    

The US Justice Department have charged two Norwegian shipping executives in the US District Court in Baltimore for their participation in a "long-running conspiracy" to rig bids and fix prices on roll-on/roll-off shipments.
Ingar Skiaker and Oyvind Ervik were formerly top executives at Hoegh Autoliners AS. The Justice Department alleged that the pair had committed the offences between early 2006 and September 2012.
According to the Justice Department, Mr Skiaker, the former CEO, and Mr Ervik agreed with shipping company competitors to illegally "fix, stabilise and maintain rates" charged to shippers for international ocean shipping services.
The company Hoegh has already pleaded guilty and was sentenced to pay a US$21 million fine. In addition to Hoegh, five companies also have pleaded guilty for their roles in this conspiracy, resulting in total criminal fines of more than $255 million.
The Justice Department noted that to date 13 executives from various companies have been charged in the wide-ranging antitrust investigation. Four pleaded guilty and were sentenced to prison terms, while others remain international fugitives, according to American Shipper.



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