CSAV admits to price-fixing

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The ro-ro division of the Chilean shipping line that is in merger discussions with Hapag-Lloyd (although this part of its activities was not part of the negotiations), has gone down the plea-bargain route in the US’s investigation into price-fixing in the pure car carrier market from 2000 to 2012. It has admitted its culpability and will have to pay an $8.9m fine. In addition, it will also have to help prosecutors as they investigate other companies accused of conspiring over freight rates, understood to include Wallenius-Wilhelmsen, MOL, NYK and K Line’s car-carrying divisions. Given air freight’s experience of the US justice system, guilty executives can expect to go to jail.