Star Bulk Carriers is pursuing a $70m claim against Pan Ocean in a South Korean court over a charter contract that was torn up at the end of last year.
The New York-listed bulker owner’s decision to turn to a judicial solution follows unsuccessful efforts to reach an out-of-court settlement in the dispute over the 179,700-dwt Star Borealis (built 2011).
“This has gone into court because we have not managed to find an amicable solution with STX Pan Ocean,” Star Bulk chief executive Spyros Capralos said as he briefed analysts on the company’s first-quarter earnings.
Under
