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)


Legal

Vallianz Rejects Payment Request from Swiber Managers

Vallianz Holdings, which provides support vessels for the oil industry, said on Wednesday it had refused a request from the judicial managers of shareholder Swiber Holdings to pay around $63.

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

Hanjin files for Receivership, Ports Turn Away Vessels

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court

Finance

Global Fallout from Hanjin Collapse

When Hanjin Shipping, Korea's largest and one of the world’s top ten container carriers, filed filed for court receivership after losing the support of its banks,

Ship Finance 2016 Q2 Reveue Falls

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter.

KfW IPEX-Bank Boosts its Presence at SMM

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship

Casualties

NYC Ferry Strikes a Group of Kayakers

A New York Waterways ferry struck a group of kayakers on the Hudson River Tuesday afternoon, according to the U.S. Coast Guard.   Five of the 11 kayakers were

Wounded Lobsterman Medevaced near Cape Cope

An injured lobsterman was medically evacuated by U.S. Coast Guard helicopter crew Tuesday roughly 130 nautical miles east of Cape Cod.   At about 10:15 a.m.,

FlameRanger Automatically Detects and Fights Fires

Unifire AB’s FlameRanger is a first-of-its-kind robotic nozzle system which automatically detects and extinguishes fires for fixed installations, indoors and outdoors,

News

DNV GL's New Project on EU LNG Market

Whilst LNG has proven to be a viable option as a bunkering fuel for ships, there are still challenges to the pace of its development and demand for LNG as a fuel.

Japanese Shippers Trim Fleets

The three big Japanese marine transport firms -  Nippon Yusen Kabushiki Kaisha (NYK Lines), Mitsui O.S.K. Lines and Kawasaki Kisen - are decreasing the number

Ship Finance 2016 Q2 Reveue Falls

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter.

Vessels

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, announced that it has taken delivery of the ECO VLCC the Gener8 Macedon on August 30,

Ingalls Secures Design Work for US Navy’s New LX(R) Ships

Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been awarded a $13.7 million contract (with incremental funding) to perform contract design effort for the U.

Global Maritime Completes Njord A Disconnection and Tow to Shore

Global Maritime Consultancy & Engineering, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has successfully

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0938 sec (11 req/sec)