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You are here: Home → Archive → 2009 → December → 23 → Fortescue settles charter dispute for US$20m

Fortescue settles charter dispute for US$20m

by Liz McCarthy - Lloyd's List — last modified Dec 23, 2009 10:26 AM

Pilbara iron ore producer Fortescue Metals Group has paid out US$20.3m to settle a dispute with SK Shipping Europe over two suspended ship charter contracts.

  

The Perth-based miner has also restructured its chartering deals with SK Shipping, agreeing to two new time charters with respective terms of four and eight years.

“Fortescue has now successfully completed settlements with four counterparties and now only has two remaining...

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