Peru’s anti-monopoly body Indecopi (The National Institute for the Defence of Competition and Intellectual Property), announced on Monday that it is bringing sanctions against 17 shipping companies it suspects of price fixing on cargoes using the port of Callao, according to Reuters. The collusion is believed to have occurred on shipments between Callao – Peru’s busiest port, located west of the capital city Lima – and ports in Asia. The list of claimed conspirators includes Hapag-Lloyd of Germany, CMA CGM of France, Maersk of Denmark, CSAV of Chile and Kawasaki Kisen Kaisha of Japan. They allegedly attempted to hike freight fees over a period from 2009 to 2013. Regulator Indecopi claims proven offenders could be fined up to 12% of their parent firm’s annual earnings. The companies have 30 days to submit exculpatory evidence that could see the charges dismissed. Indecopi is a public body with a remit to watch over competition and the free market, to promote intellectual property rights and to protect consumers.
Shipping companies, which as we have previously noted are already enduring troubling times, potentially face further problems as Peru 's anti-trust regulator, Peru has begun a sanctions process against 17 shipping companies it suspects of colluding on prices for years on goods moved between the country's Callao port and Asia . Authorities could fine each company 12% of its parent company's years earnings if wrongdoing is confirmed. Shipping firms named as suspects include units to Neptune Orient Lines Moller-Maersk, Lines and American President Lines , owned by Neptune Orient Lines . The suspected cartel would impacted competitiveness of export companies operating in Peru and may have pushed up the cost of imports in the Andean Country.