The European Commission confirmed on Wednesday it had filed formal charges against several shipping companies with suspected links to illegal cartels.

The European Union (EU)'s antitrust watchdog accused the unnamed shippers of bulk chemical liquids of customer allocation, bid-rigging, price-fixing and the exchange of confidential market information, which constituted restrictive business practices banned by the EU.

The Commission said it had taken action based on evidence against the companies gathered during unannounced inspections carried out in February 2003.

Those companies targeted will have two months to reply in writing to the charges and may also request an oral hearing about one month after the written reply has been received.

If found guilty, the companies may face fines of up to ten percent of their worldwide total annual turnover, said the Commission.