More detail is emerging on the significant indirect costs incurred by Japan’s K Line, MOL and NYK when they merged their container businesses into Ocean Network Express (ONE) last year.
Non-operating containership owner Seaspan Corporation said today it had received a penalty contract payment of $227m from a ONE equity owner – which would either be K Line or MOL, as NYK does not have any ships on charter from Seaspan.
The payment related to the early termination of the charter parties of seven vessels …
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Source: The Loadstar