Plaintiff, COSCO Shipping Development (H.K) Co Ltd (formerly known as China Shipping Container Lines (H.K) Co Ltd) and Defendant Hanjin Shipping Co Ltd are both shipping companies that carry containers around the world. They (and other shipping lines) entered into a space-sharing agreement for the use of space on board each other’s ships. Plaintiff and Defendant reconciled their respective accounts for some months but Defendant did not pay the amount due to Plaintiff under the agreement. In the space-sharing agreement, the parties agreed to bring any disputes to the High Court of England and Wales in London.