The investigation, covering the period 2001-2012, has been concluded, and Höegh Autoliners has agreed a settlement with the DOJ. Höegh Autoliners will pay $21 million in fines related to US to Middle East exports.
The other countries that have concluded their antitrust investigations have not imposed any fines on the company.
In September 2012, DOJ began investigations into the car carrier industry and ocean shipping services to and from the US Höegh Autoliners was one of several shipping companies included in the investigation. Höegh Autoliners has cooperated fully with the authorities.
Authorities in China, Japan, Mexico, New Zealand and South Korea have concluded their antitrust investigations and have not imposed fines on Höegh Autoliners for antitrust violations. Höegh Autoliners will continue to cooperate with authorities in the jurisdictions that have yet to conclude their investigations.
“Höegh Autoliners takes the Department of Justice’s conclusion very seriously, and we deeply regret the incidents occurred”, says Leif Høegh, Chairman of Höegh Autoliners. “We would like to extend our sincere apologies to customers, personnel and other stakeholders. Höegh Autoliners is committed to fair and lawful business practice. Actions have been taken to strengthen our efforts to meet the highest ethical standards, and we will continue to reinforce our compliance activities throughout our organisation.”