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Violation Tracker Individual Record

Company: Odfjell Seachem AS
Current Parent Company: Odfjell
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $42,500,000
Year: 2003
Date: September 29, 2003
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Mega-Scandal: Price Fixing
Violation Description: Norwegian-based Odfjell Seachem AS, one of the largest parcel tanker shippers in the world, and two of its executives were charged with participating in an international cartel to allocate customers, rig bids and fix prices on parcel tanker affreightment contracts for the shipment of specialty liquids to and from the United States and elsewhere. Odfjell Seachem, with its principal place of business in Bergen, Norway, has agreed to pay a $42.5 million fine for its role in the cartel.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Antitrust Division
Civil or Criminal Case: criminal
HQ Country of Current Parent: Singapore
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: freight and logistics
Specific Industry of Current Parent: ocean shipping
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.