Damages of more than $45m have been awarded against Daehan Shipbuilding over charter guarantees given to two single ship companies associated with Jinhui Shipping & Transportation.

The award was in respect of guarantees the South Korean shipbuilder gave when Daehan Shipping chartered the 55,500-dwt supramaxes Jin Man and Jin Pu (both built 2008) while still under construction.

Daewoo have taken over the management of Daehan Shipbuilding.