Wallenius Wilhelmsen

WWASA's partly owned company Wallenius Wilhelmsen Logistics received draft cease and desist order

Wallenius Wilhelmsen Logistics (WWL), owned 50% by

Wilh. Wilhelmsen ASA, has received a draft cease and

desist order and a draft surcharge order from the

Japanese Fair Trade Commission (JFTC) indicating that

WWL as one of several companies in the industry has

participated in non-competitive behaviour in

automotive transportation. The draft surcharge is

estimated to USD 33 million and primarily related to

the Japan-Europe trade.

The draft cease and desist order and draft surcharge

order are provided to the companies concerned for

their review and comment, in advance of a final

ruling by the JFTC. WWL takes the matter very

seriously and will now carefully review the draft

decisions in order to respond to the JFTC's

preliminary findings.

The investigation into the car carrier trade

practices between Japan and other regions of the

world, which started in September 2012, has involved

a number of car carrying operators. EUKOR Car

Carriers, owned 40% by Wilh. Wilhelmsen ASA, was

initially included in the investigation, but has not

been named in the draft orders from the JFTC.

WWL has done its best to respond to the fair trade

authority's requests during the past 17 months, and

expects to receive the final cease and desist order

and final surcharge order from the JFTC in the second

quarter.

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