Alcoa files lawsuit against Eimskip and Samskip over alleged collusion in Iceland

Alcoa Fjarðaál has filed a lawsuit against shipping companies Eimskip and Samskip, seeking over three billion Icelandic króna in damages along with interest. This legal action stems from alleged collusion between the companies that reportedly resulted in significant price increases for Fjarðaál between 2008 and 2013.

Eimskip contested the validity of Alcoa’s claims, asserting that the conditions for liability are not met and that the evidence supporting Alcoa’s alleged financial loss is insufficient. The claim is based on a memorandum from the consulting firm Analytica, which evaluated the impact of the purported illegal collaboration between Samskip and Eimskip during the specified period.

In response, Eimskip hired economists Dr. Birgir Þór Runólfsson and Dr. Ragnar Árnason to review Analytica’s findings. Their conclusion indicated that the deficiencies in the report were so severe that it should be considered wholly unreliable as an assessment of alleged damages.

Samskip has previously faced penalties due to violations of competition laws, with regulatory fines totaling 4.2 billion króna. However, the company has contested the findings. Additionally, Eimskip reached a settlement with the Competition Authority in 2021, admitting to its violations and paying a fine of 1.5 billion króna, while committing to implement specific corrective measures.

The ongoing legal disputes highlight the complexities surrounding competition regulations and the shipping industry’s operations in Iceland.