Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automated EquipmentGate AutomationRemote ControlProcess Automation
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Operations/TransportContainer leasingEquipmentM&R/Storage
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

$13 million legal victory for Cargotec

Cargotec will no longer have to pay damages resulting from a dispute over a failed acquisition in the offshore industry in 2011.

Linked InTwitterFacebookeCard

Cargotec has announced that its has won an appeal against a ruling requiring it to pay almost US$13M in damages to Logan Industries in the Texas.


In 2010 Cargotec was in the process of due diligence to acquire Logan Industries, a company specialising in heavy equipment servicing and repair for the offshore industry in the Gulf of Mexico. Cargotec wanted Logan Industries to expand its ability to service and repair MacGregor’s subsea cranes and other equipment in the Americas.


The companies had signed a Letter of Intent (LoI) and a confidentiality agreement that prohibited Cargotec using confidential information obtained in the due diligence process for commercial advantage. The deal fell through, and in April 2012 Cargotec set up its own offshore service centre in Houston, which it subsequently closed.


Though Logan Industries found another buyer (the Dutch company DGI), the price was lower than what it expected to achieve from selling to Cargotec. Logan’s original shareholders subsequently sued Cargotec in 2016 for breach of contract and fraud, alleging that Cargotec violated the confidentiality provision of the LoI and improperly used Logan’s confidential information to open and operate a competing business.


A jury found that Cargotec was guilty, and awarded Logan US$10M for loss of value, $2.7M for lost net profits, plus costs. Cargotec appealed on several legal points, but most of these did not need to be addressed as the appeal judge found that there was insufficient evidence to show any loss of net profits or business value after the deal fell through. The original decision was reversed and a "take-nothing" judgement was awarded for Cargotec.

Linked InTwitterFacebookeCard

You may also be interested in...

ZPMC moves in

Bunking up the logs for easy moves

Pulp facts to the fore in Montevideo

Hyster clamps up on reel handling

Sizing up the breakbulk market

Getting on the intermodal track

Related Stories

Setback for Gateway Basel Nord

The trimodal Gateway Basel Nord (GBN) project, being taken forward by an ad hoc...
Linked In