CHO to receive additional $1.63m from arbitration case

This brings the aggregate amount awarded to $3.9m.

CH Offshore Limited said the arbitral tribunal has favoured its further submissions over an unpaid charterhire claim and will receive an additional $1.63m (US$1.25m).

This comes after the company commenced arbitration proceedings against its charterer for not paying services with a $2.7m (US$2.1m) value.

The tribunal had previously issued a first partial award amounting to $2.1m (US$1.6m).

This brings the aggregate amount awarded to CHO to $3.9m (US$3m) and interest will continue to accrue on a daily rate until payment. The decision is final and not subject to appeal.

($1=US$0.77)

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