John Fredriksen-controlled SFL Corp has been awarded $27.4m in damages after a UK-based liner shipping newcomer reneged on a charter during the pandemic.

Allseas Global Management Ltd (AGML) was the guarantor of the 1,740-teu container ship Green Ace (built 2005) when its charterer defaulted in mid-2022, according to a High Court in London ruling on Tuesday.