A London appeal court has substantially cut the compensation that Petrobras has to pay over a hard fought chartering battle involving an Embiricos controlled VLCC.
In the latest and potentially final round of the dispute three appeal judges cut an award of more than $450,000 for the 2.64 days the 306,000-dwt Kos (built 2001) lost at Petrobras’s Angra dos Reis loading terminal to just $28,756.
