The English Court of Appeals has rejected Grand China Logistics (GCL)’s appeal of a $25.3m court win by Spar Shipping.
Still, the judges overturned a 2013 rule that had given owners’ a stronger position to withdraw ships and seek damages when charterers fail to pay charter hire.
The court upheld a 2015 decision by the High Court in favour of Norway’s Spar in its claims that GCL was on the hook for guarantees of spinoff Grand China Shipping (GCS)’s 58,000-dwt Spar Capella and Spar Vega (both built 2011) and 53,000-dwt Spar Draco (built 2006).
As
