Taiwanese carrier Yang Ming Marine Transport has reached an out-of-court settlement with a shipper that claimed it was a victim of price manipulation, reports Container News.
Out-of-court settlement
In June last year, MSRF, a gourmet food producer, filed an official complaint with the Federal Maritime Commission (FMC) against Yang Ming and South Korean counterpart, HMM, claiming the pair had colluded, broken earlier agreed contracts and manipulated prices.
That proceeding was dismissed in July of the same year when MSRF agreed with HMM and Yang Ming to instead file separate complaints against the two carriers.
The Yang Ming case was closed and approved by the FMC this month after the two parties submitted a joint motion in support of a confidential settlement. MSRF’s complaint against HMM however remains outstanding.
Yang Ming settled a similar dispute with Achim Importing Company, a home furnishings company based in New Jersey, which accused it of under-supplying shipping capacity.
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Source: Container News
