US logistics companies fined for cartel action

Geologistics International (Bermuda) Ltd., the second American freight company to reach a settlement over an alleged air cargo cartel, has been fined $2.5 million by New Zealand competition authorities for its role in fixing freight forwarding pr i ce s . The company admitted breaching the Commerce Act by entering into a surcharge agreement with […]


Geologistics International (Bermuda) Ltd., the second American freight company to reach a settlement over an alleged air cargo cartel, has been fined $2.5 million by New Zealand competition authorities for its role in fixing freight forwarding pr i ce s . The company admitted breaching the Commerce Act by entering into a surcharge agreement with rivals that controlled and maintained prices for freight-forwarding between New Zealand and the US. Geologistics had already agreed to pay almost US$690,000 to settle pricefixing allegations with US antitrust regulators. Texasbased freight company EGL Inc. was fined $1.15 million earlier.