Car carrier owner Wallenius Wilhelmsen will pay a fine of AUD 24m ($18m) for criminal cartel conduct in Australia.

The Oslo-listed company pleaded guilty in the collusion case last June.

The shipowner said on Thursday the Australian Federal Court ruling "marks closure" for its Wallenius Wilhelmsen Ocean division after a long-running car carrier investigation.

The process was started by the Australian Competition and Consumer Commission in 2015.