Risk of operational shutdown and losses due to serious accidents, piracy, terrorism and other threats
First written in FY2017. 6 of 13 entries say "Restated". Latest entry: FY2026-H1.
0 other companies' latest entry also says "Other".
- FY2026-H1Expansion of the scope of major-accident risks and addition of the risk of insufficient insurance coverageAnnual report
「However, if an unforeseen incident, particularly a major accident involving oil pollution or other environmental contamination, death or injury to crew members, passengers or visitors aboard a vessel, including cargo-handling personnel, or the loss of or damage to a vessel, an infectious disease outbreak aboard a vessel, enhanced quarantine measures due to a global infectious disease pandemic, or a security incident such as piracy or terrorism, were to occur, we could face delays in or an inability to transport cargo, termination of transportation contracts, breach of contract, administrative penalties, litigation, fines, operating restrictions, higher insurance premiums, and damage to our reputation and customer relationships. If such risks cannot be adequately covered by insurance, our group’s operating results and financial position could be affected.」
In addition to the previously identified risks of major accidents, piracy and terrorism, the company has added deaths or injuries among visitors aboard vessels, including cargo-handling personnel, infectious diseases aboard vessels, enhanced quarantine measures due to global infectious diseases, and the risk of inadequate insurance coverage. - FY2023-Q3Petition for a writ of certiorari to the US Supreme CourtAnnual report
「Following a petition by the plaintiffs and appellants, the appellate court reheard the case. On 16 August 2022 (US local time), it again issued a judgment dismissing the plaintiffs’ and appellants’ appeal. On 14 December 2022 (US local time), the plaintiffs filed a petition for a writ of certiorari with the US Supreme Court.」
After the appeal was dismissed, the plaintiffs in the ACX CRYSTAL collision lawsuit filed a petition for a writ of certiorari with the US Supreme Court. - FY2023-Q2Judgment dismissing the appealAnnual report
「Following a petition by the plaintiffs and appellants, the appellate court reheard the case. On 16 August 2022 (US local time), it again issued a judgment dismissing the plaintiffs’ and appellants’ appeal.」
In the damages lawsuit related to the ACX CRYSTAL collision, the court issued a judgment dismissing the appeal after the rehearing. - FY2023-Q1RestatedAnnual report
「Although the trial and appellate courts issued decisions effectively dismissing the action, following a subsequent petition by the plaintiffs and appellants, the appellate court decided in July 2021 to rehear the case, and the proceedings are continuing.」
The company reconfirms that, in the damages lawsuit related to the ACX CRYSTAL collision, a rehearing was ordered and the proceedings are continuing. - FY2022-Q3RestatedAnnual report
「Although the trial and appellate courts had issued decisions effectively dismissing the action, on 2 July 2021 (US local time), the US Court of Appeals for the Fifth Circuit, the appellate court, decided to rehear the case.」
The company reconfirms that, in the damages lawsuit related to the ACX CRYSTAL collision, the appellate court decided to rehear the case. - FY2022-Q1Appellate court orders rehearingAnnual report
「Although the trial and appellate courts had issued decisions effectively dismissing the action, on 2 July 2021 (US local time), the US Court of Appeals for the Fifth Circuit, the appellate court, decided to rehear the case.」
In the damages lawsuit related to the ACX CRYSTAL collision, the trial and appellate courts issued decisions dismissing the action, after which the appellate court decided to rehear the case. - FY2021-Q3RestatedAnnual report
「In connection with the collision on 17 June 2017 (Japan time) off Shimoda, Shizuoka Prefecture, between the container vessel ACX CRYSTAL, which we chartered and operated, and the US Navy Aegis destroyer FITZGERALD, the bereaved families of crew members who died in the accident and those who claimed to have been injured, among others, filed a lawsuit in the US District Court for the Eastern District of Louisiana seeking approximately US$308 million in damages and other relief. On 4 June 2020 (US local time), that court dismissed the action, but on 18 June 2020 (US local time), an appeal of the dismissal was filed with the US Court of Appeals for the Fifth Circuit, the higher court.」
The company reconfirms that an appeal was filed after the district court dismissed the damages lawsuit related to the ACX CRYSTAL collision. - FY2021-Q2RestatedAnnual report
「On 4 June 2020 (US local time), the US District Court for the Eastern District of Louisiana, where the lawsuit had been filed, dismissed the action. On 18 June 2020 (US local time), however, an appeal of the dismissal was filed with the US Court of Appeals for the Fifth Circuit, the higher court.」
The company reconfirms that an appeal was filed after the district court dismissed the damages lawsuit related to the ACX CRYSTAL collision. - FY2020Appeal filed following dismissal of the lawsuitAnnual report
「On 4 June 2020 (US local time), the US District Court for the Eastern District of Louisiana, where the lawsuit had been filed, dismissed the action. On 18 June 2020 (US local time), however, an appeal of the dismissal was filed with the US Court of Appeals for the Fifth Circuit, the higher court.」
The damages lawsuit related to the ACX CRYSTAL collision was dismissed by the district court, after which an appeal was filed with the higher court. - FY2020-Q3MaterialisedAnnual report
「In connection with the collision on 17 June 2017 (Japan time) off Shimoda, Shizuoka Prefecture, between the container vessel ACX CRYSTAL, which we chartered and operated, and the US Navy Aegis destroyer FITZGERALD, the bereaved families of those who died in the accident, as well as crew members who claimed to have been injured and their spouses, asserted that we were liable to compensate the victims. They filed a damages lawsuit against us on 18 November 2019 (US local time) in the US District Court for the Eastern District of Louisiana.」
A new damages lawsuit related to the past container vessel collision was filed, with claimed damages of US$303 million and other amounts stated. - FY2019RestatedAnnual report
「However, if an unforeseen incident, particularly a major accident involving oil pollution or other environmental contamination, death or injury to crew members or passengers, or the loss of or damage to a vessel, or a security incident such as piracy or terrorism, were to occur, we could face delays in or an inability to transport cargo, termination of transportation contracts, breach of contract, administrative penalties, litigation, fines, operating restrictions, higher insurance premiums, and damage to our reputation and customer relationships.」
The company reconfirms the risk of suspended operations and losses due to major accidents, environmental pollution, piracy or terrorism. - FY2018RestatedAnnual report
「If an unforeseen incident, particularly a major accident involving oil pollution or other environmental contamination, death or injury to crew members or passengers, or the loss of or damage to a vessel, or a security incident such as piracy or terrorism, were to occur, we could face delays in or an inability to transport cargo, termination of transportation contracts, breach of contract, administrative penalties, litigation, fines, operating restrictions, higher insurance premiums, and damage to our reputation and customer relationships.」
The company reconfirms the risk of suspended operations and losses due to major accidents, environmental pollution, piracy or terrorism. - FY2017First statedAnnual report
「If an unforeseen incident, particularly a major accident involving oil pollution or other environmental contamination, death or injury to crew members or passengers, or the loss of or damage to a vessel, or a security incident such as piracy or terrorism, were to occur, we could face delays in or an inability to transport cargo, termination of transportation contracts, breach of contract, administrative penalties, litigation, fines, operating restrictions, higher insurance premiums, and damage to our reputation and customer relationships.」
The company identifies as a separate risk the possibility that major vessel accidents, environmental pollution, deaths or injuries, piracy or terrorism could result in suspended transportation, litigation, fines and other consequences.