NYK, “K” Line executives indicted for price fixing

The Japanese ocean liner carriers and three executives at the companies allegedly conspired to fixed prices on roll-on/roll-off cargo, according to the U.S. Department of Justice.

    Three former executives from NYK and “K” Line have been indicted for participating in a long-running price-fixing conspiracy involving roll-on/roll-off cargo, the Department of Justice said in a press release.
    The executives — Yoshiyuki Aoki, formerly of NYK and Masahiro Kato and Shunichi Kusunose, formerly of “K” Line — have been charged with allocating customers and routes, rigging bids and fixing prices for the sale of international ocean shipments of ro-ro cargo to and from the United States, including the Port of Baltimore, and elsewhere. The affected cargo included cars, trucks, construction equipment and agricultural equipment.
   They are among seven executives who have been charged in the investigation so far. Four have pleaded guilty and been sentenced to prison. NYK, “K” Line and one other company have also pleaded guilty and paid more than $136 million in criminal fines.
   “The companies and executives who conspired to restrict competition and raise prices for shipping these products must be held accountable,” said Bill Baer, assistant attorney general of the antitrust division of DOJ. “We previously charged NYK and K-Line for their role in this long-running conspiracy. Today we are continuing our effort to ensure that the executives at those companies who orchestrated the ocean shipping conspiracy face the consequences as well.”
   The indictment, which was returned by a grand jury in the District of Maryland, charges Aoki with participating in the conspiracy from at least as early as 2001 until at least September 2012; Kato with participating from at least as early as April 2002 until at least September 2012; and Kusunose with participating from at least as early as April 2004 until at least September 2012.
   An indictment is a formal charging document and defendants are presumed innocent until proven guilty.