Two Norwegian shipping execs indicted for price-fixing

The Justice Department said Höegh Autoliners’ Ingar Skiaker and Øyvind Ervik worked with other shipping companies to illegally “fix, stabilize and maintain rates.”

Two Norwegian shipping execs indicted for price-fixing

The Justice Department said Höegh Autoliners’ Ingar Skiaker and Øyvind Ervik worked with other shipping companies to illegally “fix, stabilize and maintain rates.”

Two Norwegian shipping execs indicted for price-fixing

The Justice Department said Höegh Autoliners’ Ingar Skiaker and Øyvind Ervik worked with other shipping companies to illegally “fix, stabilize and maintain rates.”

 

   The U.S. Justice Department on Wednesday said two Norwegian shipping executives were charged in the U.S. District Court in Baltimore for their participation in a “long-running conspiracy” to rig bids and fix prices on roll-on/roll-off shipments.
    Both Ingar Skiaker (pictured above) and Øyvind Ervik were formerly top executives at Höegh Autoliners AS. The Justice Department alleges that the wrongdoing by the two executives occurred between early 2006 and and September 2012.
    According to the Justice Department, Skiaker, the former CEO, and Ervik agreed with shipping company competitors to illegally “fix, stabilize and maintain rates” charged to shippers for international ocean shipping services.
    Höegh already pleaded guilty and was sentenced to pay a $21 million fine. In addition to Höegh, 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 have been charged in the wide-ranging antitrust investigation. Four pleaded guilty and were sentenced to prison terms. Others remain international fugitives.

I am of the opinion that shippers should pray that lines are allowed to continue to operate alliances.

The fastest liner transit (excluding transshipments) from China to the Netherlands is from Yantian to Rotterdam at 23 days, according to BlueWater Reporting’s Country to Country Transit Analysis by Service tool.

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Two Norwegian shipping execs indicted for price-fixing

The Justice Department said Höegh Autoliners’ Ingar Skiaker and Øyvind Ervik worked with other shipping companies to illegally “fix, stabilize and maintain rates.”

Jun 27, 2019 on Dec 27, 2018AmericanShipper.com

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Two Norwegian shipping execs indicted for price-fixing

The Justice Department said Höegh Autoliners’ Ingar Skiaker and Øyvind Ervik worked with other shipping companies to illegally “fix, stabilize and maintain rates.”

Jun 27, 2019 on Dec 27, 2018AmericanShipper.com