Maersk strikes deal to end container loss lawsuit with Target’s insurer
October 15, 2024
TradeWinds
Types : In the News
Starr Indemnity had been seeking $5.8m for lost consumer goods
AP Moller-Maersk has reached an agreement to settle a lawsuit filed by an insurer for the retail giant Target over container losses at sea.
The case is one of the final open claims in lawsuits in a court in New York over a 2021 incident involving the Danish liner giant’s 13,092-teu Maersk Eindhoven (built 2010), which lost 65 boxes when it suffered an engine failure in bad weather off Japan.
Starr Indemnity & Liability, the insurer for Target’s cargoes on the ship, filed documents to voluntarily dismiss the case in a US District Court for the southern district of New York.
That came after Timothy Semenoro, the Montgomery McCracken Walker & Rhoads lawyer representing Maersk in the case, told chief judge Alvin Hellerstein that the two sides had executed a settlement agreement.