Justice Finds Tribunal Lacked Jurisdiction To Award Vessel Owner $57M

(March 5, 2018, 9:08 AM EST) -- LONDON — After finding that an arbitral clause in a contract for the charter of a bulk carrier vessel was not valid because the parties never entered into an agreement, an English justice on March 1 found that a tribunal lacked jurisdiction to hear a case in which it recently awarded the owner of the vessel $57.3 million in damages, plus interest and costs (Jiangsu Shagang Group Ltd. v. Loki Owning Company Ltd., No. [2018] EWHC 330, England and Wales High, Comm.)....