Dutch container ship operator Samskip has rejected findings by an Icelandic watchdog of collusion on rates with Eimskip.
The company condemned the decision by the Icelandic Competition Authority (ICA) following a probe into operations in the North Atlantic market between 2006 and 2013.
Samskip said the assumptions and conclusions about “extensive and organised collusion” are “wholly baseless and in no context with either data or facts”.
“Samskip condemns the ICA’s approach in the investigation and intends to have its results overturned,” the company added.
The ICA imposed an ISK 4.2bn ($32m) fine on the operator.
The authority said Samskip provided "incorrect, misleading, and insufficient” information to investigators.
Allegations included:
- Coordinating changes in shipping systems and limiting transport capacity
- Dividing markets based on large customers in sea and land transport
- Colluding on the imposition of fees and discount terms
- Sharing of sensitive pricing and business information
- Collaborating on specific transport routes within Iceland and international sea transport
“Samskip builds its operations on competition in all markets, and the company leads in creating effective competition and cost-effective solutions in transport and related services,” Samskip said.
“The ICA’s conclusion is characterised by half-truths, misleading statements, and misrepresentations of facts,” the operator added.
Long process
The probe began in 2010 and raids were carried out on both companies in 2013 and 2014.
“Samskip is deeply disappointed by the ICA’s procedure in the case. It has been extraordinarily cumbersome and has had a crippling effect on Samskip’s operations,” a statement by Samskip continued.
“Samskip will not abide by the ICA’s decision and will use all available means available by law to overturn the decision,” it concluded.
Icelandic line Eimskip settled for $11m in 2021.
Hordur Felix Hardarsson, Samskip’s legal representative, told the RUV website: “We are disappointed with both the investigation and the results. The only option now is to appeal to the Competition Appeals Committee.”
“We strongly believe that neither the charges nor the fine amount can withstand scrutiny,” he added.
Legal action could follow if an appeal is unsuccessful.
During the prosecutor’s investigation, two managers from Samskip and two from Eimskip were accorded the legal status of a defendant, the ICA said.
“The probe remains incomplete,” the report added.
