South Korean shipbuilders and GTT would need to move to arbitration in future if they cannot agree on any requests by the yards to take on all or parts of the technical assistance currently provided by the French designer for the construction of its membrane-type cargo tanks for LNG carrier newbuildings.
Answering analysts’ questions on a first-quarter results call, GTT chairman and chief executive Philippe Berterottiere touched on its recent legal setback when on 13 April the Supreme Court of Korea rejected its final appeal against the splitting of the company’s provision of its technology licences from the technical assistance it provides.
