Yangzijiang Shipbuilding says a major part of an arbitration claim in London was resolved but it could potentially be required to refund deposits totalling $3.32m.
In a regulatory disclosure on Monday, the Singapore-listed shipbuilder said claims amounting to around $832.2m against three wholly owned subsidiaries — Jiangsu Tianchen Marine Import & Export, Jiangsu Yangzi Xinfu Shipbuilding and Jiangsu New Yangzi Shipbuilding — over alleged contractual breaches to 10 newbuilding contracts have been dismissed by an arbitration tribunal in London.
