NPNYY Nippon Yusen Kabushiki Kaisha (PK)

BEIJING—China fined eight international shipping companies a total of 407 million yuan ($63 million) for price fixing.

The imposed fines are equivalent to 4% to 9% of their international shipping sales "concerning transport to and from China," the National Development and Reform Commission said in a statement Monday. The investigation lasted for more than a year, the NDRC said.

South Korean shipping company EUKOR Car Carriers Inc. was fined 284 million yuan.

"We are glad to see the investigation come to an end, so we can move forward," Craig Jasienski, chief executive and president of EUKOR, said in a statement.

Wallenius Wilhelmsen Logistics, based in Oslo, received a fine of 45 million yuan. The eight companies also included Japan's Nippon Yusen K.K. and Chile's Compañ í a Sud Americana de Vapores SA.

Liyan Qi

(END) Dow Jones Newswires

December 27, 2015 23:35 ET (04:35 GMT)

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