Yang Ming Marine Transport has reached a settlement deal that seeks to end a complaint by a US shipper seeking compensation for the liner operator’s alleged failure to live up to commitments to provide container shipping capacity during the supply chain crisis.
The dispute is one of two by gourmet foods and gifts company MSRF before the Federal Maritime Commission (FMC), with the second complaint targeting South Korea’s HMM.
The settlement deal emerged as part of a joint filing by Taiwan’s Yang Ming and Illinois-based MSRF that aims to keep the details of their agreement a secret.
As TradeWinds has reported, MSRF had filed complaints in October against Yang Ming and HMM on claims that the shipper racked up $2.2m in damages because it had to procure spot freight to move its goods, despite having service contracts with both Asian container liner operators.
The cases involve shipments from Asia to the US between May and December 2021.
In their filing, MSRF and Yang Ming said their settlement, which was filed with the FMC under seal, is conditioned upon confidentiality.
“The confidential settlement agreement is a fair and reasonable resolution of the disputes between the parties and reflects their desire to resolve their issues without the need for costly and uncertain litigation,” the two sides said.
MSRF is represented in the case by Chicago-based attorney Kevin Williams of law firm Clarks Hill. Rebecca Fenneman of Jeffrey/Fenneman Law + Strategy is acting for Yang Ming.
The complaint against HMM continues.
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