Brokerage suing John Koo's Orient

Shipbrokers are suing John Koo's Orient Steamship in New York for failing to pay the $541,500 brokerage commission on the capesize bulker he sold in July.

But lack of funds is not the reason Orient Steamship has not paid Associated Shipbroking Monaco (ASM) its 2%, Koo's company tells TradeWinds.

Instead, Orient claims there are irregularities in the way ASM wanted the settlement paid.

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