Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) pleaded guilty to criminal cartel conduct in the Federal Court.  And the Australian Competition and Consumer Commission (ACCC) says it will pursue more such prosecutions.

"This is our first criminal matter and it is a landmark in that sense.  We don't shy away from the fact we have taken a cautious approach to all this," said ACCC chairman Rod Sims to the Australian Financial Review.  "We have 10 to 12 detailed investigations under way and we're trying to lay the platform for a continuing steam of criminal cartels."

The plea came after the ACCC's investigation into fixing the 'roll-on roll-off' price of transporting vehicles - including cars, trucks and buses - from Japan, India, Thailand, Indonesia,  Europe, and the United States between to Australia between July 2009 and September 2012.

The maximum fine for each offense will be the greater of AU$10 Million, or three-times the total benefits that the company made through criminal conduct.  If the total benefits cannot be determined, The fine will be 10 percent of Nippon Yusen's annual turnover connected with Australia.

This makes NYK the second major car carrier to plead guilty and agree to pay a fine for antitrust violation in many weeks.  In the US last week, Norwegian/Swedish shipping giant Wallenius Wilhelmsen Logistics agreed to pay US$98 million to the U.S. Justice Department for fixing ro-ro pricing in and out of the Port of Baltimore.