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Japan fines Wallenius Wilhelmsen Logistics for price fixing

The Japanese Fair Trade Commission has fined Norwegian shipping firm Wallenius Wilhelmsen Logistics (WWL) US$34 million for price-fixing in automobile shipping between 2008 and 2012.
The JPY3.496 billion fine, part of a final cease and desist order, is in line with a preliminary ruling in January, reported Reuters. WWL is 50 per cent owned by Wilh Wilhelmsen ASA (WWASA).
"WWASA made an accrual of $16.5 million in the fourth quarter of 2013. The final order will therefore not have any effect on the accounts for the first quarter of 2014," the company declared. 

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