Stena Drilling wins arbitration case against Samsung Heavy

Sweden’s Stena Drilling has won an arbitration case with South Korean shipbuilder Samsung Heavy Industries regarding the termination of a rig construction contract.

Stena Drilling ordered a semi-submersible rig at Samsung in 2013 and the contract was terminated by Stena in 2017 due to excessive delays.

Samsung filed an arbitration against Stena, but the arbitration tribunal determined that Stena’s termination of the contract was valid and dismissed all claims by Samsung.

The tribunal also ordered payment by Samsung to Stena of the minimum sum of $411m by way of the refund of pre-delivery payments plus further amounts in respect of interest and project costs.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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