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