Arbitration Awards NAT $10.2M for Ship Repair Bill

MarineLink.com
Friday, January 31, 2014

Nordic American Tankers (NAT) announced that an arbitration panel in London has produced an award in favor of NAT. Gulf Navigation Holding PJSC (GulfNav) was the other party in the arbitration. The case relates to the six-year bareboat charter with GulfNav of the Suezmax vessel Gulf Scandic (now named Nordic Harrier) covering the period 2004-2010.

When the vessel was redelivered to NAT by the charterer in October 2010, it was in very poor technical condition. The vessel had not been technically operated according to sound maintenance practices by the charterer. NAT had the vessel repaired in the autumn of 2010/spring 2011, and made a claim against GulfNav for costs incurred. A London arbitration panel ruled in favor of NAT and awarded the company $10.2 million plus direct costs and calculated interest.
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MOL & Viken in Shuttle Tanker Ownership J/V

Mitsui O.S.K. Lines, Ltd. (MOL) says it has decided to establish a ship-owning joint venture with Norway's Viken Shipping AS  to participate in a shuttle tanker project.

Cruise Ship Gets Within 298-miles of the N. Pole

Hapag-Lloyd Cruises say that their expedition ship 'Hanseatic' has set a new record for passenger ships in the Northeast Passage, when the 122.8-metre-long ship reached the northernmost point at 85°,

MNZ & AMSA Award McMurdo COSPAS-SARSAT Contract

McMurdo Group’s Techno-Sciences Inc. says it has been chosen by the Australia Maritime Safety Authority (AMSA) and Maritime New Zealand (MNZ) to deploy their next-generation

Legal

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Polar Code Afoot

The IMO is on the verge of adopting the Polar Code, something that is important and long overdue. The International Maritime Organization (IMO), a specialized agency of the United Nations,

Halliburton to Settle US Gulf Spill Claims for $1.1b

Halliburton Co said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP oil spill in the Gulf of Mexico in 2010.

Ship Repair & Conversion

Fuel-saving Modifications for Containerships’ Engines

Mitsui Engineering & Shipbuilding Co., Ltd., and 100% owned subsidiary MES Technoservice Co., Ltd., have received an order from a Taiwan shipowner for fuel-efficiency

STS Young Endeavour Prepares for World Voyage

The Royal Australian Navy operated Sail Training Ship, Young Endeavour, is undergoing maintenance work in preparation for a 12-month world circumnavigation. It

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Tanker Trends

MOL & Viken in Shuttle Tanker Ownership J/V

Mitsui O.S.K. Lines, Ltd. (MOL) says it has decided to establish a ship-owning joint venture with Norway's Viken Shipping AS  to participate in a shuttle tanker project.

Newbuilding Orders: Summer Lethargy Lingers

Despite some anticipation in increased activity as the summer holidays come to an end, there are just two orders to report this week both focused on the more specialised markets,

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

News

USCG Cutter Eagle to Open for Tours in Yorktown

Coast Guard Cutter Eagle, America's tall ship and seagoing classroom for future officers in training, is scheduled to be open for tours Saturday at Coast Guard Training Center Yorktown.

30 Rosneft Subsidiaries in All-Russian Environmental Cleanup Day

Thirty Rosneft subsidiaries in most of the regions of the Company presence, from Sakhalin in the east to the Arkhangelsk Region in the west, took part in the

Newport International Boat Show Highlights

Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today activities and amenities for those planning to attend its 44th boat show season,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1714 sec (6 req/sec)