JSC Sevmash has paid the total of $50,7 million ($43m plus legal cost, interest) in favor of Norwegian shipping company Odfjell. The amount was awarded from the Court of Arbitration in Stockholm, the Russian enterprise press service reported.
Initially, the Norwegian company claimed the sum of $303,8, the report says. The court's decision was enforced on May 27. Other details were not disclosed.
According to the Arbitration Court’s ruling the Russian shipbuilder breached the contract for the construction of chemical tankers in 2009. The contract between the two parties, which could become the largest Russian-Norwegian deal, was signed in 2004 and was terminated due to violation of these terms.
Severodvinsk-based Northern Machine-Building Enterprise (PO Sevmash) was established in 1936. Currently, Sevmash is the only nuclear submarine producer in Russia.Since 1939, the enterprise has built 45 warships, 163 submarines (128 of them nuclear-powered). The company also has built more than 100 civilian vessels of various types and purposes (tugs, mini-bulk carriers, pontoons, barges, fish farms) for international customers. Sevmash Shipyard is focused on construction of vessels for the Arctic oil and gas development projects.
Initially, the Norwegian company claimed the sum of $303,8, the report says. The court's decision was enforced on May 27. Other details were not disclosed.
According to the Arbitration Court’s ruling the Russian shipbuilder breached the contract for the construction of chemical tankers in 2009. The contract between the two parties, which could become the largest Russian-Norwegian deal, was signed in 2004 and was terminated due to violation of these terms.
Severodvinsk-based Northern Machine-Building Enterprise (PO Sevmash) was established in 1936. Currently, Sevmash is the only nuclear submarine producer in Russia.Since 1939, the enterprise has built 45 warships, 163 submarines (128 of them nuclear-powered). The company also has built more than 100 civilian vessels of various types and purposes (tugs, mini-bulk carriers, pontoons, barges, fish farms) for international customers. Sevmash Shipyard is focused on construction of vessels for the Arctic oil and gas development projects.