Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Glenda wins arbitration with SLS Shipbuilding

Glenda wins arbitration with SLS Shipbuilding

South Korea: D'Amico and Glencore joint venture Glenda has won a legal battle over three product tanker newbuildings cancelled at SLS Shipbuilding. The London arbitrators found that three 51,000 dwt product tankers ordered by Glenda at SLS had been effectively cancelled entitling the shipowner to $82.6m in refunds on payments already made on the vessels.

The joint venture shipowner cancelled the product tankers being built at the South Korean shipbuilder due to excessive delays in delivery. A further arbitration over the cancellation of a fourth 51,000 dwt tanker being built at SLS Shipbuilding is still pending. [04/02/10]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish