CH Offshore (SGX:C13), an offshore vessel operator, has secured $3 million in arbitration for unpaid charterhire, according to a Friday filing on the Singapore Exchange.
This includes a Fourth Final Partial Award of about $1.25 million, based on a full hire rate, following a previous award of $1.6 million for standby hire.
The arbitral tribunal's decisions are final and not subject to appeal, with interest continuing to accrue on the awarded amounts. The company is working with legal advisors to enforce the awards in relevant jurisdictions and assess the potential financial impact.
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