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Dutch competition watchdog investigates possible bunker cartel

London — Dutch competition regulator the Authority for Consumers and Markets (ACM) is investigating "a possible cartel in the bunker industry," the organization said Wednesday, July 12.

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The ACM started its investigation after receiving information about the bunker sector from the police, it added. The ACM said some companies may have made prohibited price agreements, without naming any of the companies or individuals involved or giving any further detail.

The ACM will now determine whether the Dutch Competition Act has been breached before investigating further. Companies involved in a cartel could be fined up to 40% of global turnover and individuals up to Eur900,000 ($1 million), it said.