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 July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Fratelli Neri Orders Damen ASD 3212 Tug

One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015. The vessel will be the first ASD tug in

Three Rescued on Lake Tahoe

The Coast Guard and multiple agencies rescued three people Wednesday evening after they were reported missing on Lake Tahoe. At 9:45 p.m., Coast Guard Sector

More Vessels Call at Lerwick Port

The number of vessels using Lerwick Harbour in the first half of this year increased by 7% to 2,930, due mainly to more fishing boats compared to the same period

Legal

More Vessels Call at Lerwick Port

The number of vessels using Lerwick Harbour in the first half of this year increased by 7% to 2,930, due mainly to more fishing boats compared to the same period

Allcargo Logistics Strengthens Top Deck

Allcargo Logistics Ltd, the global leader in integrated logistics listed on NSE and BSE and part of the Avvashya Group, recently announced the expansion of its

Oceanteam Acquires Oceanwind

Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions.

Ship Repair & Conversion

UK Navy Chooses Effer Crane Again

Cranes manufacturer Effer informs its marine crane has recently been installed aboard the U.K. Royal Navy’s patrol vessel HMS Mersey.   The new 5s 275M crane,

Fire-stricken Icebreaker Overhauled

SENER concludes the Almirante Irizar icebreaker engineering works for re-outfit and overhaul   SENER reports it has completed the engineering works relating to

Engine Refit for Mersey Pilot Boat

James Troop supplies two new Volvo Penta engines to upgrade Mersey pilot boat   Merseyside-based engine specialist James Troop & Co has secured a deal to supply

Tanker Trends

More Vessels Call at Lerwick Port

The number of vessels using Lerwick Harbour in the first half of this year increased by 7% to 2,930, due mainly to more fishing boats compared to the same period

US Senate Energy Panel Votes to Lift Oil Export Ban

The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil.   The 22-member panel passed the bill

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

News

Fratelli Neri Orders Damen ASD 3212 Tug

One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015. The vessel will be the first ASD tug in

Three Rescued on Lake Tahoe

The Coast Guard and multiple agencies rescued three people Wednesday evening after they were reported missing on Lake Tahoe. At 9:45 p.m., Coast Guard Sector

More Vessels Call at Lerwick Port

The number of vessels using Lerwick Harbour in the first half of this year increased by 7% to 2,930, due mainly to more fishing boats compared to the same period

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Sonar Winch
rss | archive | history | articles | privacy | 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: 0.6398 sec (2 req/sec)