Gulf Navigation loses arbitration case in London
Dubai, March 20, 2014
Gulf Navigation, a Dubai-based shipping company, has lost an arbitration case in the UK, said a report.
The company must pay a group of Chinese ship building companies the second part of a contract to build two VLCC grade petroleum tankers, the London arbitrators decided, according to the Gulf News report.
The contract, which dates back to 2011, involves Chinese ship building companies Zhoushan Jinhaiwan Shipbuilding, Grand China Logistics Holding and HNA Group.
