The Nigerian Shippers’ Council recently mediated a dispute resulting in the release of a $34,000 cargo held amid a sanction disagreement between an importer, Streamflo Ltd, and Ocean Network Express (ONE).
The importer had shipped a container of raw materials from China, only to face a halt in release due to an OFAC sanction on the shipper, Hengshui Yuanchem Trading Ltd.
In a tripartite meeting chaired by the Council, the parties delved into the intricacies of the matter.
Despite the sanction, the importer, represented by Mr. Ezeala Chukwudi, had fulfilled all contractual obligations, including payments and clearances.
The Council swiftly directed the release of the cargo within 24 hours, emphasizing adherence to contractual agreements and clearance procedures.
Furthermore, the Council established that any costs incurred as a result of the dispute, including storage charges, must be borne by Ocean Network Express.
In addition, the Council stipulated that Streamflo Ltd, the importer, must ensure the prompt return of the empty container to the designated terminal within the stipulated timeframe.
This resolution highlights the Council’s dedication to facilitating smooth shipping operations and promptly addressing industry challenges.
Both parties, including Ocean Network Express, expressed gratitude for the amicable resolution, signaling the Council’s pivotal role in ensuring fair and efficient trade practices.
