The legal action was initiated after the European Commission imposed a €395 million ($415 million) fine on the shipping companies in 2018 for breaching competition laws. The Commission found that the companies had conspired to coordinate shipping rates, reduce market capacity, and exchange sensitive information to manipulate the pricing of new vehicle shipments.
Significant Legal Progress and Future Trials
Tuesday’s settlements follow a £1.5 million deal in 2023 with a Chilean carrier, also led by McLaren. This earlier settlement was approved by the appeals tribunal, bringing the total value of settlements to an impressive £38 million. McLaren hailed the new agreements as a “major milestone” and expressed confidence that they would provide substantial compensation for the affected class members.
Looking ahead, the trial against the remaining two defendants, Mitsui OSK (MOL) and NYK Line, is scheduled for January. This trial is expected to be another pivotal moment in the case, with an estimated value of £100 million.
