Under a recent ruling of the English High Court, shipowner Goulandris Bros, chartering operator Oldendorff Carriers and trader SCIT Trading have all won — on paper — a ruling that they are entitled to be indemnified over an unlucky December 2013 shipment and a resulting August 2014 ship arrest by the Bank of China.
But it is not clear how far up the chain the respective parties will be able to cash in their letters of indemnity (LOIs).
