Azerbaijani national oil company Socar has won a $49.5m arbitration award in London against embattled Turkish shipowner Palmali Holding.
Socar said in a statement that the decision was issued on 5 November at the London Court of International Arbitration.
The case involved the Socar Overseas, which was won the award at the same time that the court dismissed in its entirety a multi-million dollar counterclaim by Palmali.
