Japanese shipping firm Kawasaki Kisen Kaisha Ltd (K-Line) was convicted of criminal cartel conduct and ordered by a federal court to pay a fine of A$34.5m (US$23.50m), the Australian Competition and Consumer Commission (ACCC) said on Friday August 2nd.
The fine was said by the ACCC to be the largest ever criminal penalty imposed under the Competition and Consumer Act.
K-Line was found to have engaged in a cartel with other shipping companies in order to fix prices on the transportation of cars, trucks, and buses to Australia between 2009 and 2012, ACCC said.
K-Line pleaded guilty to the charges last year following a criminal investigation by the ACCC. In 2017 Nippon Yusen Kabushiki Kaisha was convicted by Australia’s Federal Court and fined A$25m (US$20m) for its part in the activity.