The Netherlands investigates possible price-fixing by port bunker firms

The investigation involves vessel fueling companies that are active in the ports of Amsterdam, Rotterdam and Antwerp, with several companies suspected of conducting illegal price-fixing agreements, authorities say.

   The Netherlands Authority for Consumers and Markets (ACM) has launched an investigation into possible cartel behavior in the bunker sector and has already conducted several dawn raids, the federal agency said Wednesday.
   The investigation involves companies that are active in the ports of Amsterdam, Rotterdam and Antwerp. Several companies may have concluded illegal price-fixing agreements, ACM said, without publicly identifying what companies are under investigation or have been raided.
   In the bunker sector, marine gas oil and fuel oil are produced, processed, traded, stored, and transported. Marine gas oil and fuel oil are fuels that are used to power ships.
   The bunker sector is a critical one for the Dutch ports and shipping companies; across the three mentioned ports, dozens of bunkering companies are active as producers, suppliers or storage providers. The port of Rotterdam is the world’s third largest bunkering port.
   The ACM said it was provided with “valuable information” by the Dutch Public Prosecution Service about the bunker sector that was used in launching the investigation.
   Fines for cartel activities imposed on companies can be as high as 40 percent of their combined global turnover. The maximum fine on individuals that have exercised leadership over cartels is 900,000 euros, equal to over $1 million USD.
   In the coming months, ACM said, it will assess whether the Dutch Competition Act has indeed been violated, and that as part of the investigation, the actual practices would be looked at in greater detail.
   “In the end, ACM could also come to the conclusion that no violation has been committed,” the agency explained in a statement. “However, if a violation has been established, then the parties will be heard first before any violation can be established definitively, possibly followed by a sanction.”