BEIJING: A long running dispute between Cosco Dalian Shipyard and Dalian Deepwater Developer has been resolved in the yard’s favour at an arbitration. The pair had been in dispute since October 2013 over a contract to build a DP3 deepwater drillship. The shipowner had served a notice of termination and submitted a request for arbitration in London.
The arbitral tribunal has ruled that Cosco Dalian, having repaid to the shipowner the first installment together with interest is not liable to the shipowner for any further liabilities.
