Triple whammy arising out of charterparty arbitration award. The
Hong Kong Court dismisses a court action that seeks to re-litigate
matters already decided in an arbitration between related
parties.
During the course of the last year Parakou Shipping Pte Limited,
the Singaporean arm of the shipping company, has suffered some
three mishaps in its long-running charterparty dispute with the
Jinhui Shipping Group.
The dispute, in which the Jinhui Shipping Group was successful,
has ended with Parakou Singapore going into liquidation.
First, Parakou Singapore lost an arbitration commenced by a
Jinhui Group company in London to enforce a charterparty against
Parakou Singapore. The charterparty dispute arose in 2008-09 in
connection with the dry bulk cargo ship the "Jin Kang".
Following the crash in the dry bulk market in the second half of
2008, Parakou Singapore refused to take delivery of the vessel
claiming that the charterparty was with the wrong Jinhui
