Australian authorities investigate Marine Hose cartel - report

ERJ staff report (DS)

Canberra, Australia -- The Sydney Morning Herald says that Australia's competition authorities are in the process of issuing legal proceedings against participants in the international marine hose cartel.

The SMH said the Australian Competition and Consumer Commission has begun court action in Melbourne. According to the SMH, the ACCC alleges that four global manufacturers of marine hoses conspired to fix prices and not compete against each other when the oil giants Woodside Petroleum, BHP Billiton, ConocoPhillips, ExxonMobil and others sought quotes for millions of dollars worth of crucial equipment.

It appears Australia is issuing proceedings against four participants: Bridgestone Corp. Dunlop Oil and Marine, Parker ITR and Trelleborg Industrie. In other regions Yokohama Rubber and Manuli Rubber Industries have also been implicated.

The SMH said The ACCC, which filed the case in the Federal Court on June 1, has not yet served all the companies with notice of its case, and their defences are not yet known.

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Cartel conned oil production companies, says ACCC from Sydney Morning Herald

www.accc.gov.au