Capesize player Kleimar’s lawyers claim it endured a long-term contract of affreightment (COA) suffering painful freight rates, only to see the charterer evaporate when the market turned in Kleimar’s favour, as it defends a series of London arbitrations and US court cases.
Liaoning province-based Dalian Dongzhan Group allegedly owes Belgium’s Kleimar $8.39m in damages, unpaid hire and demurrage. Kleimar values its total claim against Dongzhan, plus COA guarantor Beitai Iron & Steel Group, Benxi Iron & Steel Group and others at about $12.6m,
