Odfjell meets Sevmash in Arkhangelsk court
Norwegian tanker company Odfjell’s court case against Russia’s biggest shipyard, the Sevmash, will start in Arkhangelsk early December.
The Norwegian company informs about the upcoming court case in its quarterly report presented on Wednesday this week. The court case will start in Arkhangelsk early next month, E24.no reports.
Odfjell earlier this year announced that it intended to sue the Russian shipyard following the yard’s refusal to pay a44 million USD fine awarded by the Stockholm Arbitrary Court in January.
Read also:Sevmash vs. Odfjell controversy still unsolved
The Odfjell-Sevmash story started in 2004 when the Norwegian company signed a contract on the construction of 12 tankers with Sevmash. The deal was then described as historical in Norwegian-Russian industrial cooperation. The agreement worth 450 million USD was the biggest order ever made by a Norwegian company in Russia. However, the relationship between the parts soon started to show signs of trouble.
Read also: Sevmash refuses to pay Norwegian debts
Sevmash proved unable to deliver the vessels in line with contract conditions. Odfjell in early 2008 cancelled the contract. Odfjell’s CEO Terje Storeng then said that the Russian shipyard had “acted with disrespect as well as a lack of will to meet the contract conditions”. –They have shown no will to try to understand that this is a commercial project […] and deliberately sabotaged and delayed the project, he added
