Under the agreement, the bonds must be issued by 20 August and are considered full and final payment for the claim.
The dispute dates back to a six-year bareboat deal from 2004 for NAT's 151,000-dwt Nordic Harrier (built 1997), known as Gulf Scandic at the time.
NAT claimed that when the vessel was redelivered in October 2010, it was in very poor technical condition.
It
