A cartel of freight forwarders shipping cargo from Japan to Singapore have been fined over $7 million for price fixing. The Competition Commission of Singapore (CCS) said in a statement that eleven companies were fixing prices, and exchanging price and customer information concerning air freight forwarding services for the Japan-Singapore route.
Only one freight forwarder escaped being penalised as it qualified for full immunity under CCS’s leniency programme. The programme offers either immunity from or a reduction in financial penalties in exchange for full disclosure of the cartel and cooperation during CCS’ investigation. Two freight forwarders were fined over $1 million.