Steel Makers, Insurers Sue Shipper Over Damaged Goods

Law360, London (May 22, 2020, 5:22 PM BST) -- A group of European steel companies and their insurers are asking to recoup more than £246,000 ($299,000) from their shipping partner after a vessel allegedly broke down twice on its cross-Atlantic journey and endangered its cargo.

Four units of German industrial powerhouse Thyssenkrupp and more than two dozen other steel companies and their insurers said in a particulars of claim served May 19 that SBI Jaguar Shipping Co. caused damage to the steel onboard its ship when its engine failed twice on its journey from Antwerp to the U.S.

SBI Jaguar, a large shipping vessel owned by a Monaco-based company, "imperilled...

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