Eimskip’s settlement with Icelandic Competition Authority upheld by Landsréttur court

Eimskip’s settlement with the Icelandic Competition Authority remains intact despite a lawsuit from competitor Samskip. The Landsréttur court ruled in favor of the Competition Authority today.

The case centers around alleged illegal collusion between the shipping companies. An investigation into Eimskip’s violations concluded in 2021, leading to a settlement where the company acknowledged its wrongdoing and agreed to pay a fine of 1.5 billion Icelandic krónur. As part of this settlement, Eimskip committed to ending all cooperation with Samskip.

Samskip was subsequently fined 4.2 billion krónur for its involvement in the collusion. In its lawsuit, Samskip requested that specific conditions of the settlement, particularly the cessation of collaboration between the two companies, be annulled.

Previously, the appeals committee on competition matters dismissed the case, but a district court overturned this decision, ruling that the appeals committee needed to reconsider the case. Landsréttur determined that since the settlement was only binding for Eimskip and not for Samskip, the latter lacked any legal interest in the matter.

Consequently, the settlement between Eimskip and the Competition Authority remains valid.