K Line faces criminal cartel charges by Australian authority

The alleged period of cartel operations by K Line was between July 2009 and September 2012, according to ACCC.

The matter was before Australia’s Downing Centre Local Court for a first mention on 15 November 2016.

“This is the second matter in which criminal charges have been laid against a corporation under the criminal cartel provisions of the Competition and Consumer Act 2010,” ACCC said.

Nippon Yusen Kaisha (NYK), another Japanese shipowner, pleaded guilty to similar charges brought by ACCC in July this year.

NYK faces a maximum fine of which ever is greater of AUD10m ($7.6m), three times the benefit obtained, or if this cannot be determined 10% of its annual turnover in Australia.

“The ACCC’s investigation into other alleged cartel participants is continuing,” ACCC added.