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EU Accuses Shipping Cos. Of Forming A Cartel

Law360 (April 11, 2007, 12:00 AM EDT) -- The European Commission on Wednesday took a step forward in its investigation into shipping companies it claims have formed an anti-competitive cartel in the global carrier industry.

The Commission said it sent statements of objections to the companies, which it did not identify. The letter accuses them of bid-rigging, price-fixing and exchanging confidential market information regarding the transportation of bulk liquids by sea. It also alleged that they colluded to restrict competition in the EU market, which violated the E.C. Treaty.

The letter follows a number...
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