[newyorker88]

Will we see price reduction after this?



SINGAPORE: Two ferry operators have been fined a total of S$286,766 for anti-competitive behaviour.

Batam Fast Ferry was fined about S$173,000 while Penguin Ferry Services was made to pay nearly S$114,000 for breaching the Competition Act.

The Competition Commission of Singapore (CCS) said on Wednesday that they had shared confidential price information on ferry tickets sold to corporate clients and travel agents on two routes.

The routes are Singapore (HabourFront) to Sekupang and Singapore (HarbourFront) to Batam Centre.

The CCS said the actions of the two ferry operators encouraged collusion and reduced the incentive to set independent pricing decisions competitively.

Given that the routes were served only by the two operators, the CCS said the price exchanges "further reduced the already limited competition in a duopolistic market structure".

This is the first time the watchdog found that a concerted practice infringed Section 34 of the Act.