Chengxi Shipyard, part of China State Shipbuilding Corp (CSSC), has agreed to pay $875,000 to TorvaldKlaveness in a London arbitration over deficiencies in a bulker carrier.
In an exchange filing, China CSSC Holdings—the Shanghai-listed flagship unit of CSSC—said Chengxi would be compensating the Norwegian owner for issues related to the torsional vibration damper on the ship.
The 71,900-dwt self-unloader was originally named Balto (built 2013).
