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April 21, 2014

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Japanese ship seized for delayed payments

A MARITIME court in Shanghai detained a Japanese ship on Saturday following a court verdict that ordered the ship’s owner to pay delayed rent and losses to a Chinese firm, the court said yesterday.

The Baosteel Emotion owned by Japanese shipping firm Mitsui OSK Lines (MOL), was seized at a port in east China’s Zhejiang Province.

A Chinese company sued the Japanese shipping firm in 1988 in the Shanghai maritime court over alleged delays in rent for two ships, plus economic losses.

The court ruled in 2007 that MOL should compensate the Chinese firm 2.9 billion yen (US$28.4 million), including delayed rent and operating losses.

The court said it will dispose of the ship if MOL continues to refuse to fulfill its obligation.


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