Chinese yard wins arbitration case against Pacific Radiance unit
Judge ruled in favour of SWS on one of the disputed PSVs, allowing it to keep the $2.8m pre-payment and ordering CA Offshore to pay $4.6m in compensation for the yard’s losses. But it supported the owner’s claim for the other vessel
SWS and Pacific Crest in 2016 reached a settlement on two sister PSVs, with the yard returning pre-payments for both vessels