A subsidiary of Singapore-listed Cosco Shipping International (CSI) has won an arbitration battle against a crane specialist that has played out over the past five years.
CSI said in a statement to the Singapore Exchange on Monday that the unnamed crane company has been ordered by an arbitration tribunal to pay it SGD 3.95m ($2.95m) for a breach of contract that occurred with a gantry crane system that was to be constructed as part of the roof-top container depot of an integrated logistics complex in Singapore.
