“Is It Safe?”

This oft spoken query by Sir Lawrence Olivier in the film Marathon Man is the question of the moment when it comes to vessel chartering. Having settled with Bocimar, Fortesscue updated the market with respect to the eight remaining long term COA and consecutive voyage contracts under dispute.  According to the company, the remaining eight contracts were for original terms ranging from three to six years with an average duration of five years. Currently, the total amount of these arbitration claims for the suspended contracts is approximately $30 million, which is expected to increase until the suspension is lifted or a resolution is achieved legally or commercially.

“Notwithstanding the inherent uncertainty in quantifying potential exposure relating to the out of the money shipping contracts, Fortescue has calculated a potential

This is only an excerpt of “Is It Safe?”

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post