Bankrupt retailer Bed Bath & Beyond is seeking tens of millions of dollars from shipping companies, claiming the carriers abandoned service commitments at the height of supply-chain turbulence to reap profits
Bed Bath & Beyond says it was forced to pay OOCL extra fees to send its freight on the carrier’s vessels or to use other carriers at inflated prices during the market turmoil that included enormous backups at U.S. ports. Bed Bath & Beyond also claims OOCL unfairly assessed charges for freight delays outside of the retailer’s control.
The complaint includes emails from OOCL to Bed Bath & Beyond that the retailer says show the carrier auctioning space on vessels at ever higher prices. In one such email, an OOCL employee writes to a Bed Bath & Beyond employee that space on a ship is filling up quickly and that the retailer won’t be able to secure space without paying thousands of dollars in surcharges. “It is not our intention to gouge, but to position [Bed Bath & Beyond] to secure space on the vessel listed below,” the OOCL employee writes, according to the retailer’s complaint.
Disagreements between shippers and carriers are relatively common as the companies navigate changing market demands, capacity and often-volatile spot pricing. Those disputes are often resolved when the sides negotiate their next contracts. Because Bed Bath & Beyond is going out of business it isn’t constrained by the prospect of alienating carriers.Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.
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