A dispute between Cosco Bulk Carriers and the insolvent Armada chartering group is to be resolved by arbitration in London.

A ruling that might cut Armada out of a handysized bulker chartering chain and simplify the payment of freight hire to Cosco has been made by London high court just Justice Briggs.

The dispute centres on the 45,400-dwt Spar Sirius (built 1996) originally chartered by Cosco from Norway’s Spar Shipping.

Cosco