Cosco Shipyard wins arbitration

Cosco Shipyard wins arbitration

A long running dispute between Cosco Dalian Shipyard and Dalian Deepwater Developer has been resolved in the yard’s favour at an arbitration. The pair had been in dispute since October 2013 over a contract to build a DP3 deepwater drillship. The shipowner had served a notice of termination and submitted a request for arbitration in London.

The arbitral tribunal has ruled that Cosco Dalian, having repaid to the shipowner the first installment together with interest is not liable to the shipowner for any further liabilities.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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