Today after the closing of the market Eimskip received first statement of objections from the Icelandic Competition Authority which is a part of the procedure in the investigation that started in 2013. The statement contains the preliminary assessment of the Icelandic Competition Authority, but is neither an administrative act nor a binding decision. The purpose of the statement is to ensure that the case will be fully investigated before a final decision is made and to enable the company to use its right to put forward its arguments and objections according to the administrative procedure act.

In this first statement of objections the preliminary assessment is that Eimskip and Samskip committed an illegal collusion which infringed article 10 of the Icelandic competition act and article 53 of the EEA agreement during the investigated period from 2008 until 2013. Enclosed to this press release is a summary from the Icelandic Competition Authority of the alleged infringements and the investigation, included in the statement of objections.

No information is available on potential fines, or if they will materialize.

The statement of objections contains the preliminary assessment of the Icelandic Competition Authority on the essence of the case and on those incidents that have been investigated furthest. Therefore the Icelandic Competition Authority considers it appropriate to give the company a chance to provide written arguments in relation to these incidents. Furthermore the Icelandic Competition Authority aims to send the company additional statement of objections, statement of objections II, as soon as possible. The company has no information on when it will be received. Therein potential penalties and potential need for remedies, cf. article 16 of the competition act, will be addressed. In the statement of objections II it will be further discussed whether documents or information which the Icelandic Competition Authority may receive from the police or the prosecution may alter the competition authority’s preliminary assessment. After receiving statement of objections II the company will be given the right to submit its arguments on that statement of objections and the case as a whole. Also if applicable, submit further arguments on the subject matter of the statement of objections I. Remarks, clarifications or new documents can alter the preliminary assessment and the conclusions drawn in the statement of objections I.

Eimskip will now start preparing its arguments towards the statement of objections and has until 7 September 2018 to submit arguments, documents and information regarding statement of objections I.