FMC orders probe into provider practices as chassis trouble flares up again
The US Federal Maritime Commission (FMC) has opened an investigation into the actions of the ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
The republic of Djibouti is running up a significant legal bill; DP World has won another court ruling in its case against the country and port operator China Merchants Port Holdings.
Hong Kong’s court of appeal dismissed a request by China Merchants for a second appeal that the case be heard in Djibouti and ordered the port operator to pay legal costs for the action.
DP World and joint-venture Doraleh Container Terminal are bringing claims against China Merchants, arguing that it induced the government of Djibouti to expel DP World, with its exclusivity rights, and hand over the Doraleh terminal to the Chinese company.
In January, the London Court of International Arbitration also ruled in DP World’s favour, awarding it damages of $200m from Djibouti for the period between 23 February 2018 to 31 December 2020. Total damages now owed to DP World are some $686.5m, plus accruing interest.
The Doraleh Container Terminal is the largest employer and biggest source of revenue in Djibouti and has operated at a profit every year since it opened.
In 2019, Djibouti was ordered to pay some $500m to DP World for breaking its ‘exclusivity’ clause and for the non-payment of royalties.
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