MOL-Operated BAOSTEEL EMOTION Released
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the MOL-operated iron ore carrier BAOSTEEL EMOTION, which had been impounded by the authorities in Zhejiang Province, China on April 19, 2014, departed the port at 14:55 local time (15:55 JST) today.
24 April 2014 - 21:07
This incident occurred in June and October 1936. Daido Kaiun, one of predecessors of MOL, chartered two vessels, SHUN FOONG and HSINTAIPING from Chung Wei Steamship Co., but the vessels were expropriated by the Japanese government before their charter contracts were terminated. Both vessels then sank or were lost at sea.In 1964, the heir of the president of Chung Wei Steamship Co. brought a plea for arbitration against the Japanese government in the Tokyo Summary Court, but it ended unsatisfactorily for him in 1967. In 1970, the plaintiff filed the case in the Tokyo Summary Court, but it was refused due to laches.In 1987, statute of limitations of the civil law was introduced in China and the year-end of 1988 was to be the limit for filing the case. The heir of the president of Chung Wei Steamship Co. brought suit for damages and reparations for nonfulfillment of financial obligations on the charter contract in the Shanghai Maritime Court against the successor to Daido Kaiun, Navix Line, Ltd. (now Mitsui O.S.K. Lines, Ltd.) in 1988 before the time limit.On December 7, 2007, the Shanghai Maritime Court instructed MOL to pay the plaintiff Chung Wei Steamship Co., the equivalent of ¥2.92 billion. MOL disagreed with the verdict of the ruling and appealed to the Shanghai Municipal Higher People’s Court (Second Judgment).On August 6, 2010, the Shanghai Municipal Higher People’s Court issued a second judgment upholding the initial judgment. MOL filed a motion for a new trial to the Supreme Court of the People’s Republic of China, but the motion was refused and notification of the refusal was sent to MOL on January 17, 2011.MOL, getting in touch with the Shanghai Maritime Court, was seeking the possibility of out-of-court settlement when the vessel was suddenly impounded.
This news 8175 hits received.