Maersk Line and UK retailer Argos have settled a US$14 million dispute over allegations that the carrier reneged on a contract to ship 5,000 40ft containers.
It is not known what the terms of the settlement were, but in a brief statement Maersk said the companies were no longer in dispute and that the retailer would continue to be a customer.
The Danish carrier refused to provide any other information, claiming it would be inappropriate to comment further.
It is understood the two companies only came to the agreement very recently.
It was first revealed that Argos had applied to the UK High Court for $13.9 million in compensation for the alleged contract breach, which was said to cover 2010 and 2011, in September.
The case was being very closely watched by the industry after many shippers claimed to have had contracts torn up earlier in the year when space on vessels was tight and shipping lines were finding some shippers were willing to pay above contract rates in order to guarantee shipping.
Andrew Traill, Policy Director at the European Shippers Council and MD of online shipper forum Shippers’ Voice, said if Argos had won the court case, he expected other shippers to launch similar compensation claims.
It is not known what the terms of the settlement were, but in a brief statement Maersk said the companies were no longer in dispute and that the retailer would continue to be a customer.
The Danish carrier refused to provide any other information, claiming it would be inappropriate to comment further.
It is understood the two companies only came to the agreement very recently.
It was first revealed that Argos had applied to the UK High Court for $13.9 million in compensation for the alleged contract breach, which was said to cover 2010 and 2011, in September.
The case was being very closely watched by the industry after many shippers claimed to have had contracts torn up earlier in the year when space on vessels was tight and shipping lines were finding some shippers were willing to pay above contract rates in order to guarantee shipping.
Andrew Traill, Policy Director at the European Shippers Council and MD of online shipper forum Shippers’ Voice, said if Argos had won the court case, he expected other shippers to launch similar compensation claims.