China's Shanghai Waigaoqiao Shipbuilding (SWS) is celebrating a London arbitration victory worth $14m plus interest over former customer Cobelfret of Luxembourg.
The dispute concerns a much resold capesize, the 181,000-dwt former Lowlands Audacity (renamed Courageous, built 2016).
The ship had been ordered by Greece's Gleamray in 2013 for $47m and then sold on to an affiliate of Cobelfret in August 2015 for $43.5m,
