Freight forwarders plead guilty to cargo price fixing

SIX international freight forwarders have pleaded guilty to conspiring to fixing fees and charges on air cargo shipments to the US between 2002 and 2007.

The six have agreed to pay fines totalling US$50.3 million: BAX Global ($19,745,927), EGL (now CEVA, $4,486,120), GeoLogistics International ($687,960), Kuehne + Nagel (K+N, $9,865,044), Panalpina ($11,947,845) and Schenker ($3,535,514).

“The department’s investigation uncovered six different conspiracies harming businesses and consumers in the United States and across the globe,” said Christine Varney (right), assistant attorney general in charge of the US Department of Justice’s (DoJ) antitrust division. “Our investigation continues in this important industry.”

For the full story read the latest free digital edition of Air Cargo News, no. 688 dated 18 October, here.

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