Judgement pronounced in dispute
After a dispute lasting several years, a court in London has ordered Concordia Maritime to pay USD 3.6 million to a subsidiary of the Halliburton group in the US. Concordia Maritime will also have to pay some interest compensation to the opposite party. The original claim of USD 11.5 (SEK 91.5) million was for compensation for repair and steel replacement work carried out by the buyer on the VLCC Stena Continent sold by a subsidiary of Concordia Maritime in 2000.A provision of USD 2.3 (SEK 11.5) million was made in the annual accounts for 2005. In view of the judgement now pronounced,