Pan Ocean and Cido Shipping have struck a deal to put an end to a $29m lawsuit in the US over several charter cancellations.
It is not immediately clear how the settlement impacts the main battle between the companies, which has been waged in front of London arbitrators.
But in giving her stamp of approval to the settlement, District Judge Phyllis Hamilton of the US federal court in Oakland returned $25m in cash to Cido that the company had deposited in the court as security.
The
