Pacific Radiance wins PSV non-delivery case against Shanghai Waigaoqiao
The case originates from 2016 over non-delivery of two platform supply vessels from two separate yards in China. The second case, also filed in the Hong Kong International Arbitration Centre against China Shipbuilding Trading (Shanghai) Co Ltd is ongoing
The arbitral award provides for the refund of the pre-delivery instalment amounting to $2.8m along with contractual interest from the date of payment of the instalments until the date of refund
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