Antong

Companies

CUL pays $67m penalty for early termination of Antong cooperation agreement

China United Lines (CUL) has reached a settlement with Antong Holdings for the early termination of its Long Term Cooperation Agreement on 8 December 2022, subject to the approval of Antong shareholders. CUL had given notice to Antong on 28 November 2022 for the termination of the agreement that involves the charter of 12 panamax ships of 4,132 teu to 4,713 teu from Antong for $52,000 per day and the lease of Antong containers for operations on the Asia-Europe and Transpacific routes under a p

Companies

CUL seeks to terminate 12 panamax containership charters from Antong

China United Lines (CUL) has served notice on 28 November 2022 for the early termination of its Long Term Cooperation Agreement with Antong Holdings that involves the charter of 12 panamax ships of 4,132 teu to 4,713 teu to CU Lines for $52,000 per day and the lease of Antong containers by CU Lines for operations on the Asia-Europe and Transpacific routes under a profit sharing arrangement. The agreement was effective from 1 June 2022 and was supposed to expire in 34 months or on 1 April 2025.

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