A shipbroker has been forced to settle for $380,000 after a charter deal went wrong.
The arbitration dispute has been revealed by UK insurer International Transport Intermediaries Club (ITIC), which settled the claim for the broker.
London-based ITIC said the case underscores the “paramount importance” of transparent communication and due diligence in the shipbroking sector, following an accusation of breach of contract and negligence for not disclosing critical navigation restrictions to a charterer.
