COBALT achieves a EUR 600,000 reduction of fines for its clients

COBALT represented 12 shipping agency companies in a dispute with the Competition Council of the Republic of Lithuania relating to an infringement of national and EU competition law.

By its resolution of 8 December 2011 the Competition Council found the companies to be in breach of competition law and fined them for their agreement to fix minimum tariffs for shipping agency services. Such agreement violates national and EU competition laws.

Responsibilities of shipping agency companies include management of customs and shipping documentation, payment of port charges and other fees on instruction from clients, ensuring successful ship arrivals at and departures from the port, and provision of other related services.

On 7 April 2014 the Supreme Administrative Court of Lithuania issued a ruling considerably mitigating the sanctions imposed by the Competition Council on the shipping agency companies. The overall amount of the fines for the companies advised by COBALT was reduced by EUR 600,000.