Tuesday, April 22, 2014

Chinese court seizes MOL container ship in dispute from WWII

A Chinese court ordered the seizure of the 226,434-ton Baosteel Emotion, a Japanese ship owned by Mitsui OSK Lines, to make up for the loss of two ships leased from a Chinese company before the two countries went to war in 1937.

The Baosteel Emotion was impounded on April 19 at Majishan port in Zhejiang province as part of a legal dispute that began in 1964, according Shanghai Maritime Court and MOL websites.

The confiscation of the ship echoes the strained relationship between China and Japan during a territorial dispute over an island chain and visits by Japanese politicians to a Tokyo shrine honoring their war dead.

"Many of the major Japanese companies like Mitsubishi or Mitsui have existed through back to the pre-war era and could all be implicated in one way or another," said Shogo Suzuki, a senior lecturer at the University of Manchester. "Japanese companies can't extract themselves easily at this stage so I think they'll be quite worried."

For more of the Bloomberg story: bloomberg.com

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