Greek shipowner wins ransom legal fight in key ruling for Red Sea crisis

The Gunvor Group has lost an appeal to the UK’s highest court in a dispute over a piracy ransom payment that has implications for the industry during the current Red Sea crisis.

The ruling by the Supreme Court backed Greek shipowner Herculito Maritime in a dispute with the charterer over responsibility for a $7.7m ransom paid to Somali pirates in 2011 to secure the release of one of its product tankers.