Turkish group Geden Holdings has been denied an extra $1.4m in compensation in a long-running legal row over an aframax embroiled in a Venezuelan stolen oil case.
But the UK High Court judgment reveals that the group succeeded in winning a $24.5m final award against charterer and trading giant Glencore in arbitration in London last year.
Geden affiliate Space Shipping bareboat-chartered the 104,500-dwt aframax CV Stealth (built 2005) from Vafias-linked Psara Energy in 2010.
