Pan Ocean is demanding millions of dollars from Clearlake Shipping for allegedly reneging on a promise to pay security for one of the diversified shipowner's seized vessels.
The South Korean company filed a lawsuit seeking $7.25m for alleged breach of a 2016 charter contract requiring indemnity for any added costs incurred from Clearlake's actions.
Lawyers for both sides declined to comment on the suit filed in US District court for the Southern District of California.
