Taipei: Taiwan's Fair Trade Commission (FTC) on Wednesday announced it had imposed fines totaling NT$11 million (US$338,683) on eight ferry operators for illegally coordinating to increase their ticket prices to Xiaoliuqiu island.According to Focus Taiwan, the FTC disclosed that the eight companies, which operate ferries between Pingtung's Donggang Harbor and Xiaoliuqiu, a renowned tourist spot off Taiwan's southwest coast, were found guilty of "concerted actions" breaching fair competition laws. Before the illegal price adjustments, in 2022, these companies provided standard round-trip tickets for Xiaoliuqiu guesthouse visitors at prices under NT$370, with discounted rates for children and seniors under NT$200.In November and December 2022, Leuco Sapphire Shipping and Tai-fu International Shipping Co., two of the implicated companies, convened meetings with six other competitors, resulting in an agreement to collectively raise ticket prices the following year. The companies initially increased prices to NT$370 and NT$200 starting January 1, 2023.The FTC further noted that prices were hiked again on April 1, 2023, to NT$450 and NT$225 respectively, with one-way tickets priced at NT$250 for adults and NT$125 for children and seniors. Following its investigation, the FTC levied fines of NT$4.3 million on Leuco Sapphire and NT$2.5 million on Tai-fu International, while the remaining six companies were each fined NT$700,000.