A charterer has launched arbitration against Greek bulker owner Overseas Marine Enterprises after cargo and operational disagreements during the charter allegedly scuppered a large industrial contract.

Indian charterer Aruna Shipping and Dubai-based affiliate JAC Global Shiptrade are pursuing claims that the two companies value at about $15.88m, according to documents seen by TradeWinds.

The figure is based largely on claims of contracts lost as a result of alleged breaches of the charter contract.