Company won J0132/133 ship lawsuit in London

31.03.2014

On March 18th, 2014, London Maritime Arbitration Court issued a ruling, ruling that our company and U.A.E. Gulf Navigation on the J0132/133 two VLCC shipbuilding contract dispute case, including Jin Hai Heavy Industry, Gulf Navigation, Grand China logistics tripartite agreement case, and HNA group's letter of guarantee is made by our company won the case.

It is understood that the decision support our company withhold ship owner Gulf Navigation pay for the first phase of shipbuilding, ruling owners Gulf Navigation Company should pay to our company the second phase of the shipbuilding and also asked Gulf Navigation should be reasonable to assume my company legal fees incurred in the process of case handling.

In this case, not only avoids the abandon ship refund for our company, is a gradual recovery in the global marine shipbuilding industry situation, our company has accumulated valuable experience in the international cooperation in the future.

Jin Hai Heavy Industry press release