China Seizes Japanese Ship in WWII Dispute

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April 21 (Bloomberg) –- Bloomberg’s John Dawson reports on China impounding the vessel Baosteel Emotion, which is owned by Mitsui O.S.K. lines of Tokyo, in connection with a lawsuit concerning wartime reparations involving Chinese and Japanese shipping companies from World War II. He speaks to Angie Lau on Bloomberg Television’s “First Up.” (Source: Bloomberg)

Between japan and china.

John dawson is here with this very long story that dates back a very long time.

Unfortunate, shades -- shares are down.

This this goes back to 1936. the container ship was seized by the navy and then some.

They want the money back or the ship back.

They cannot get the ship back because it is sunk.

So they want to be paid but they are pushed aside.

They won an injunction back in 2011. you've got to pay up y¢3 billion.

The japanese are not paying up.

The ship came to chinese wants to do usual trade.

It carries iron ore.

It was seized on april 19. so they seized the ship.

Impounded it.

Unless you pay at the ship, you don't get -- unless you pay at debt, you don't get the ship back.

They haven't paid up so they seized the ship.

They got a ship instead.

If you pay up, you get the ship back.

Japanese-chinese relations always quite tense.

All these issues, one more example -- that will be an interesting write-down for mitsui osk.

Tell me more about this ship that was seized.

7000 -- 7400 meters.

The width of this ship is 54 meters but the length is three times the size of old trapper.

It can carry 120,000 gross tonnage of what is normally i nor.

It was back -- it was built back in 2011. it is being impounded and you can't have it back until you pay a. the appeal is still going forward to.

One plane was in miami.

It was seized by miami customs

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