The National Development and Reform Commission has fined eight shipping lines RMB407 million (US$63 million) for price collusion, Bloomberg reported, citing a statement published on the commission’s website. The commission claimed the firms had acknowledged wrongdoing in colluding to set prices for the transportation of heavy machinery and vehicles following a year-long investigation that had focused on Mitsui OSK, Kawasaki Kisen and Nippon Yusen, which control the bulk of the Chinese market. Kawasaki Kisen stated it would restructure to comply with the commission’s demands; Nippon Yusen said its cooperation in the investigation had granted it immunity from the fine; a Mitsui OSK spokesman declined to comment.
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