US shipowner Great Ocean Shipping Line (GO) alleges that a seven-day repair job at a Cosco Shipping shipyard that was slated to cost just under $61,000 has detained the vessel for more than a year at a cost of nearly $11.1m.
But a Cosco executive is calling the allegation a “malicious slander” that he says is “against the truth”.
GO has filed a US lawsuit and is threatening a Shanghai arbitration battle against giant Cosco Shipping, whose Cosco Shipping Heavy Industry shipyard subsidiary is at the centre of the fight over the repair contract for the 5,000-dwt, multipurpose ship GO America (built 1999).
