Monday, April 21, 2014

Mitsui OSK Vessel Seized in China in dispute from 1936

The dispute between China and Japan hasn't hit the major headlines.   I guess China has become impatient and decided to "up the ante" a bit.

They seized a Japanese owned ship, the Boasteel Emotion.

From Bloomberg News

The Baosteel Emotion, built in 2011, is a 320-meter long ore carrier and is now docked at Majishan, according to data compiled by Bloomberg. The company’s shares fell as much as 2.2 percent today in Tokyo trading, while the broader Topix index declined 0.2 percent.
The legal dispute over the ship comes as Japan and China spar over islands both countries claim in the East China Sea, and over Japan’s wartime aggression. Prime Minister Shinzo Abe sent an offering to the Yasukuni Shrine in Tokyo, following the visits this month of two cabinet ministers to the site that honors Japan’s war dead, including World War II criminals.
The Shanghai Maritime Court ruled in December 2007 that the Mitsui Group should pay 2.9 billion yen ($28.3 million) in compensation, according to the court statement. The case was first filed with the court in 1988.

click here for link to article

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