First guilty plea in ocean shipping price fixing probe

Price fixing has grabbed much headline space lately in relation to automotive suppliers, but recent developments in the US now resurrect scandal in the logistics sector. Chilean shipping company Compania Sudamericana de Vapores (CSAV) has just pleaded guilty to price fixing in the US and has agreed to pay a US$8.9m criminal fine for its involvement in a conspiracy to fix prices, allocate customers, and rig bids of international ocean shipping services for roll-on, roll-off cargo, such as cars and trucks.