In 2009, the European Commission (“EC”) fined a number of marine hose manufacturers a total of €131.5 million for participating in a cartel that operated in the European Economic Area (“EEA”) between 1986 and 2007.
Among those companies named in the EC Decision as cartelists are Bridgestone, Yokohama, Dunlop Oil & Marine Limited, Trelleborg, Parker ITR and Manuli. The cartelists sought to allocate tenders, fix prices, fix quotas, fix sales conditions, and share geographic markets whilst exchanging sensitive information on prices of marine hose.
Marine hose facilitate the transfer of sweet or processed crude oil and other petroleum based formations from offshore facilities (for example buoys, floating production storages) onto vessels and subsequently offloaded onto onshore facilities.
In 2009, Hausfeld negotiated the first ever global cartel damages settlement with Parker ITR regarding its involvement within the marine hose cartel. The terms of the settlement allow any non-US Parker ITR marine hose purchaser an opportunity to claim up to 16% of their respective marine hose purchases.
Hausfeld have brought proceedings on behalf of a group of major global oil companies. A claim was brought against Dunlop Oil & Marine Limited in the London High Court in July 2009. Subsequently, Hausfeld commenced proceedings against Trelleborg and Bridgestone for recovery of damages in December 2010.
If your organisation purchased marine hose between 1986 and 2008 then it can recover damages from the members of the cartel.