Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

German Cartel Office Fines Second Bunker Fuel Trader in Probe

Don't Miss Out —
Follow us on:

Nov. 8 (Bloomberg) -- Germany’s Federal Cartel Office fined BMT Bremer Mineraloeltransportgesellschaft mbH more than 11 million euros ($15 million) as part of a probe into price collusion among traders of heavy oil.

BMT was the second company to be penalized after Bominflot Bunkergesellschaft fuer Mineraloele mbH in 2008, the Bonn-based office said in an e-mailed statement today.

In the period from mid-2005 to the beginning of 2007, the two companies divided the bunker market in the Weser-Ems area in half and regularly fixed prices and rates, Federal Cartel Office President Andreas Mundt said in the statement, adding that they also tried to prevent new suppliers from entering the market.

The Weser-Ems region is home to ports such as Bremen, Bremerhaven, Emden, Wilhemshaven, Brake and Nordenham.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at Acullen8@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.