Gulf Navigation to pay $10.2m to Nordic American Tankers | GulfNews.com

Gulf Navigation to pay $10.2m to Nordic American Tankers | GulfNews.com:



"Gulf Navigation Holding (GNH) said on Sunday that it had been ordered to pay over $10 million (Dh36.7 million) to Nordic American Tankers following a lengthy arbitration process in London.



In a statement released on the Dubai Financial Market (DFM), GulfNav said they will pay $10,202,624 plus interest from July 1, 2011, until the date of payment.



“Gulf Navigation is now seeking advice from an international law firm based in the UAE to find if GNH can appeal further on this in the court,” the company said in a statement."



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