Several companies seek damages from Eimskip and Samskip over alleged collusion in Iceland

Several companies are considering seeking damages from shipping companies Eimskip and Samskip. The Executive Director of the Confederation of Icelandic Employers has indicated that members are evaluating their positions regarding these shipping firms. Alcoa Fjarðaál has initiated legal action against Eimskip and Samskip, demanding over three billion Icelandic krónur in compensation due to alleged collusion between the companies.

According to the Executive Director, Olaf Stephensen, businesses have limited options for partnering with other shipping companies while Eimskip and Samskip dominate the facilities at Sundahöfn. Alcoa’s compensation claim is based on a memorandum from Analytica, which was developed for the Confederation.

Earlier today, Eimskip released a statement claiming that the memorandum contains significant flaws and cannot serve as a foundation for a compensation claim. Olaf expressed that this criticism from Eimskip was not unexpected. He emphasized that it is widely recognized that competition violations result in damages for both companies and consumers, questioning what the actual damages are, which will likely be assessed in the ongoing legal proceedings.

Stephensen also noted that many members are evaluating their strategies with regards to these shipping companies. He stated that they are advocating for changes in collaboration with the owners of Faxaflóahafnir to enhance competition and to ensure that more shipping companies enter the market.