Indonesia’s Humpuss Group shipping group has failed to overturn a $27m arbitration award in favour of a shipping fund run by Norway’s Pareto Securities.
London high court judge Justice Eder has ruled that the Pareto fund was entitled to terminate a five year bareboat charter of the 70,000-dwt bulker Mahakam (built 1996) after 18 months because of the charterer's failure to pay the freight hire.
The
