The UK commercial court has ruled that Danish owner Ultrabulk is due full payment of $4.26m in debts arising from a 2007 cooperation agreement with an Indian coke producer.
The bulker company had agreed two deals with Gujarat NRE Coke in June and July of that year.
Justice Sir Nigel Teare said that the Indian company's chairman and managing director Arun Kumar Jagatramka had agreed to guarantee the payment.
