A George Economou company has had a $68m payout overturned in the UK high court in a capesize charter row with Chinese steel producer Jiangsu Shagang Group (JSG).
The 178,000-dwt Pounda (built 1999), owned by Economou group-linked Loki Owning Company, was booked in 2008, as markets started to tank, by JSG shipping unit Shagang Shipping, which later went into liquidation.
