Swedish Maritime Company Pays Undisclosed Party $9.25 Million To Settle Case

(May 13, 2016, 11:40 AM EDT) -- GÖTEBORG, Sweden — A Swedish maritime company on May 13 announced that it has agreed to pay $9.25 million in settlement of a dispute over the grounding of a vessel in the Hudson River in the United States.

Concordia Maritime said in a news release that it has agreed to pay a confidential party $9.25 million, ending arbitration dispute. Concordia said that the settlement related to the grounding of a vessel known as the Stena Primorsk in the Hudson River in December 2012.

Arbitration

The undisclosed...
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