Gulf Navigation suffers second arbitration blow | The National

Gulf Navigation suffers second arbitration blow | The National:



"Gulf Navigation has suffered a new blow with the announcement that a second London-based arbitration had gone against it.



The arbitration centred on a dispute between the Dubai-based shipping company and a group of Chinese shipbuilders comprising Zhoushan Jinhaiwan Shipbuilding, Grand China Logistics Holding and HNA Group, over a 2011 contract between the parties for the building of two petroleum tankers.



The arbitrators found in the shipbuilders’ favour, and ruled that Gulf Navigation must pay the second part of the the building contract, together with interest"



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