Arctic Mining Company accused Murmansk Shipping Company of setting monopolistically high prices
Preliminary court hearing over the complaint brought by Arctic Mining Company LLC against Murmansk Shipping Company OJSC will be held on 28 March 2017 at the Arbitration Court of the Murmansk Region, AMC told IAA PortNews.
In December 2016, AMC filed a lawsuit in the Arbitration Court of the Murmansk Region seeking RUB 361,316,705.22 as the return of unearned advance under agreement on cargo shipping.
The agreement for dry bulk cargo transportation over a 5-year period was signed by Murmansk Shipping Company and Arctic Mining Company in December 2015.
The cost of transportation was based on the rates exceeding general level.
AMC explains it had to enter into a contract under the terms of Murmansk Shipping Company as the shipping company is a monopolist in the market of cargo transportation by the Northern Sea Route.
After one shipping was performed under the contract AMC realized economic inexpedience of the partnership and decided to terminate this work.
Murmansk Shipping Company rejected the return of the advance and Arctic Mining Company applied to the Arbitration Court.