Stolt Tankers B.V. enters into arbitration on cancellation of newbuilding contract

Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A., announced that SLS Shipbuilding Co. Ltd. of South Korea has taken Stolt Tankers B.V. to arbitration to challenge the cancellation of a contract for the construction of a 44,000 dwt coated parcel tanker, the first in a series of four ships, announced on March 18, 2009.  The ship was originally scheduled for delivery in May 2008.  The ruling by the arbitration panel will follow English law.
 

Source: Transportweekly