News / Seaspan gains $227m charter penalty windfall from Ocean Network Express

02/05/2019

More detail is emerging on the significant indirect costs incurred by Japan’s K Line, MOL and NYK when they merged their container businesses into Ocean Network Express (ONE) last year.

A $227m “charter party modification” payment related to the early termination of the charter parties of seven vessels which were no longer required by the ...

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Martyn Benson
May 02, 2019 at 3:03 pm
How many senior and top managers have been relieved of their posts after the ONE debacle? Yes, it’s easy to play the Monday morning quarter-back but these stories of wrong calculations, forgotten provisions and oversights (with seemingly only good news claims a year ago) are staggering. Only government ministers seem to have less accountability.

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