The Containership Company has filed a $23 million breach of contract lawsuit against more than 80 of its customers, claiming they failed to meet their minimum quantity commitments.
According to court documents, TCC is suing 83 shippers claiming they broke contractual agreements to ship a certain amount of cargo. A standard clause in the TCC sea freight agreement requires compensation for not complying with previously agreed volume commitments of $250 per teu.
Last month, the carrier ceased operations on the transpacific, the only trade lane it operated. The company said one of the reasons for haulting transpacific services was that some shippers were not meeting minimum volume contracts.
TCC reported losses of $7.4 million in March, including start-up costs of $2 million.
If you are involved in a contractual dispute, please contact the Orange County breach of contract lawyers of Daily Aljian by calling 949-861-2524.