Mitsui Pays $40 Mln Compensation After Seizure

Posted by Joseph R. Fonseca
Wednesday, April 23, 2014

 

Japanese shipping firm Mitsui O.S.K. Lines Ltd has paid about 4 billion yen ($39 million) in settlement to China as compensation stemming from a wartime contractual obligation, following a seizure of its ship by a Chinese maritime court in Shanghai, Japanese media said on Thursday.

What the company paid for was 2.9 billion yen in compensation plus interests, the Yomiuri newspaper and public broadcaster NHK said.

Mitsui O.S.K. spokesman Atsushi Seki said he could not immediately confirm the report, saying it was still working to lift the seizure. ($1 = 102.3850 Japanese Yen) (Reporting by Osamu Tsukimori; Editing by Dominic Lau)

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