A UK court has turned down an appeal by US trader Archer Daniels Midland (ADM) after a tribunal ruled it had no right to cancel an Oldendorff Carriers bulker charter.
But the London commercial court ruled in favour of Bilgent Shipping after it cancelled a sub-charter with ADM for the same ship.
Justice Nigel Teare said the appeals arose from two arbitrations relating to voyages by Oldendorff's 74,000-dwt Alpha Harmony (built 2001).
