Maersk Line has reached a settlement with Russian authorities in a competition case also involving other shipowners.
According to the agreement between the Danish company and the Federal Antimonopoly Service of the Russian Federation (FAS), Maersk will pay $0.23m instead of an initial fine of $12m.
FAS found no evidence of cartel behaviour but concluded that Maersk and other companies’ use of price announcements to the Russian market constituted a “non-cartel concerted action”.
Camilla Jain Holtse, head of competition law at Maersk, said: “The case concerned a unique Russian provision that does not exist in other countries.
“This agreement shows the commitment of both parties to find a solution that creates clarity for the future.
“We look forward to continuing our engagements in Russia.”
The case opened in 2013 and concerned behaviour which is legal in other jurisdictions, Maersk added.
Maersk, which reported a full-year net loss of $376m yesterday, will now cease public price announcements for cargo to Russian ports.
Customers will receive the information via e-mail or a password-protected webpage.
