TradeWinds is told by Ahmedabad-based legal sources that Justice Vipul M Pancholi of Gujarat High Court ordered the release of Essar’s 13,000-dwt Tuhina (built 1998) last week.
Legal sources decline to reveal details of the settlement agreement.
The ship was seized in August after Aquavita alleged that Essar had failed to honour its cargo commitment. The operator was claiming $631,026, including 12% interest and legal costs.
