Chinese Court News

In 2015, the volume of freight traffic along the Northern Sea Route has increased by 1.2 million tons and amounted to 5.1 million tonnes. This was at a meeting of the International Forum "The Arctic: Present and Future" in St. Petersburg deputy head FGKU "Administration of the Northern Sea Route" Nikolai Monki. "Ships of this year went through the Northern Sea Route for a few dozen more than in 2014, among them are Chinese court plans to operate on a permanent basis", - quotes the words of Monki Tass. He added that the anti-Russian sanctions have not affected the cargo. Overall, the administration Semorputi issued authorization to proceed 697 ships, including 124 foreign ones.

China Supreme Court says Mitsui pays about $29 mln; Ship released about 0030 GMT Thursday. Ship was seized over dispute dating back to 1930s. Advisor to plaintiffs says will likely demand more money. Japan's Mitsui O.S.K. Lines Ltd paid about $29 million for the release of a ship seized by China over a dispute that dates back to the 1930s war between the countries, China's Supreme Court said on Thursday. The Chinese government has described the case as a simple business dispute unrelated to wartime compensation claims, but it has become a cause célèbre for activists in China seeking redress from Japan. Mitsui paid about 2.92 billion yen ($28.5 million) in leasing fees, including interest and damages, China's Supreme Court said in a statement on its official microblog.

Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-tonne ore carrier, is ready to leave a Chinese port soon after it paid a Chinese court to release the vessel from seizure. The company did not disclose how much it paid the court over an alleged payments dispute dating back to World War Two. (Reporting by Osamu Tsukimori; Editing by Dominic Lau)

A Chinese court said on Thursday that it has released a ship owned by Japanese shipping firm Mitsui O.S.K. Lines Ltd, which had been seized in a contract dispute, after the Japanese firm paid up. China's Supreme Court said in a statement, carried on its official microblog, that the seizure order had been lifted as of 8:30 am (0030 GMT) Thursday. (Reporting by Li Hui and Ben Blanchard)

It all began with a pre-World War II contract between China's then "ship king" and a Japanese company to lease two Chinese freighters. When the one-year lease was up in 1937, the ships were nowhere to be found. That year also marked the start of a full-scale war between China and Japan. And so began a protracted legal case which came to a head last weekend, when a Chinese court ordered the seizure of an iron ore carrier owned by the successor to the original Japanese company in compensation for the loss of the two Chinese vessels. The impoundment has created unease in Japan's government, which warns that the action could affect Japanese businesses in China. It remains unclear whether the sudden ruling by the Shanghai Maritime Court would herald the seizure of more Japanese assets.

It all began with a pre-World War Two contract between China's then "ship king" and a Japanese company to lease two Chinese freighters. When the one-year lease was up in 1937, the ships were nowhere to be found. That year also marked the start of a full-scale war between China and Japan. And so began a protracted legal case which came to a head last weekend, when a Chinese court ordered the seizure of an iron ore carrier owned by the successor to the original Japanese company in compensation for the loss of the two Chinese vessels. The impoundment has created unease in Japan's government, which warns that the action could affect Japanese businesses in China. It remains unclear whether the sudden ruling by the Shanghai Maritime Court would herald the seizure of more Japanese assets.

The Japanese government has expressed its concerns to China via diplomatic channels over the seizure of a Mitsui O.S.K. Line Ltd ship by a Chinese court in connection with a case over wartime claims, Kyodo news agency reported on Monday. A Chinese maritime court in Shanghai seized the ship on Saturday, saying the company had failed to pay compensation stemming from a wartime contractual obligation. Japan's top government spokesman said the ship seizure, apparently the first time the assets of a Japanese company have been seized in a lawsuit concerning compensation for World War Two, was "extremely regrettable". Reporting by Kaori Kaneko

A Chinese court has ordered a unit of debt-laden dry bulk goods shipper Chang Jiang Shipping Group Phoenix Co Ltd to liquidate its assets, displaying further evidence of the troubles faced by the country's beleaguered shippers. The unit, whose Chinese name is translated as Chang Jiang Jiaotong Keji, is unable to pay its debt or stay solvent, prompting three of its creditors to apply to the Wuhan intermediate court to liquidate its assets, Chang Jiang Shipping said in a filing on the Shenzhen stock exchange. The unit, in which Chang Jiang Shipping owns an 89 percent stake, has ceased to operate. China's shipping sector has been plagued by overcapacity since the global financial crisis because new vessels ordered before the downturn have flooded the market.

A Chinese court has ordered a unit of debt-laden dry bulk goods shipper Chang Jiang Shipping Group Phoenix Co. Ltd. to liquidate its assets, displaying further evidence of the troubles faced by the country's beleaguered shippers. The unit, whose Chinese name is translated as Chang Jiang Jiaotong Keji, is unable to pay its debt or stay solvent, prompting three of its creditors to apply to the Wuhan intermediate court to liquidate its assets, Chang Jiang Shipping said in a filing on the Shenzhen stock exchange. The unit, in which Chang Jiang Shipping owns an 89 percent stake, has ceased to operate. China's shipping sector has been plagued by overcapacity since the global financial crisis because new vessels ordered before the downturn have flooded the market.