EU removes immunity for liner shipping conferences
The European Commission has voted to repeal the antitrust immunity which liner conferences en route to and from Europe have enjoyed since the 1970s. The EC had previously voiced its opinion that cartel exemption should be removed because shipping had changed considerably over the past 20 years and no longer needed special immunity from antitrust laws. The EC believes the European Union (EU) economy will benefit from lower transport prices and more competitive exports. The EC is urging other governments around the world to liberalise the sector.
EU imposes fines on copper cartel
Five United Kingdom copper fitting manufacturers have been fined A$530 million by the EC for participating in a price-fixing cartel which ran for 16 years. The cartel of 30 producers colluded on price discounts and rebates, and the timing of price increases. The fine, imposed on companies including the IMI and Delta groups and Advanced Fluid Connections, is the fifth largest ever imposed by the EC on a single cartel.
Toy and food safety agreement signed by China and the EU
The EU and China have signed the ‘Roadmap for safer toys’ agreement, which aims to ensure toys imported to the EU are safe. The EU and China are also holding talks to increase cooperation and the exchange of information between authorities regulating the import and export of toys and food.
EC fines participants of bitumen cartel
The EC has fined 14 leading oil firms A$449 million for their role in a cartel that fixed the price of bitumen in the Netherlands between 1994 and 2002. Shell, British Petroleum, Total and Kuwait Petroleum were involved in the cartel. Shell’s fine was increased because it had previously been fined by the EC for price fixing in the markets for polyvinyl chloride and propylene.
