Colombia: SIC admonishes companies for blocking coal trade

Colombia’s Superintendence for Industry and Commerce (SIC) has charged two companies, Puerto Nuevo and Prodeco SA, over alleged abuse of market dominance in their industry, which is the transportation of coal from sea ports to its international destination.

The Puerto Nuevo Port Society, which operates the port at the city of Magdalena and is owned in large part by Prodeco itself, were singled out by the competition watchdog. As stated in the accusation, “From the start of their operation of the port, the only coal exporter ever employed by Puerto Nuevo has been Prodeco, or other shareholders with coal for export.”

Colombia’s competition regulator has presented criminal charges against these companies over their monopoly over the port. Additionally, the agency issued individual citations to 10 high executives accused of collaborating, authorizing, executing or otherwise tolerating these actions.

Full content: Bolsamanía

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