Palma.The small and medium sized business association (PIMEM) has welcomed a 55 million euro fine on shipping companies in the Balearics for price-fixing.
Five companies will share the enormous fine after a government investigation established that they had all worked together on prices and route schedules.
PIMEM said in a communique that they had been complaining about these sharp practices for many years. Many of our members have seen their costs rise dramatically as a result of these unlawful activities by the major shipping companies, PIMEM said in a communique released yesterday.
It is unclear whether or not the companies involved intend to appeal the fine which was imposed on Monday by the Spanish government.