Spain Hits Shipping Industry With $59M In Antitrust Fines

Law360, New York (October 3, 2013, 4:11 PM EDT) -- Spain's antitrust watchdog has fined nine shipping companies and associations and the port of Valencia more than €43 million ($58.7 million) for rigging rates of container transportation in and out of the port, the agency said Wednesday.

The National Competition Commission — known by its Spanish acronym, CNC — found that the Port Authority of Valencia, the Department of Infrastructure and Transport of Valencia and several shipping and freight forwarding groups had illegally agreed to standardize prices for road transportation and other services in the port....
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