Video: Damage to George Economou bulker may have been overestimated
Damage claims following the unexplained collision between the George Economou-controlled capesize bulker, Madeira, and the Chinese-owned U Glory have been settled in “record time”.
A $1m damage claim by Cardiff Marine against the owners of the Chinese 46,500-dwt bulker, U Glory, following a collision in the anchorage of the Port of Kandla, has been settled.
Footage taken at the scene of the accident shows the 1998-built, handymax U Glory careering off the anchored 177,900-dwt Madeira and then scraping along a lightering barge. The cause of the collision is unknown.
Cardiff-affiliate Arlen Maritime had originally demanded $1m from Tianjin-based Kind Glory Shipping, but TradeWinds reports that representatives of Kind Glory handed over $250,000 on 18th May. The U Glory then departed port three weeks after it was arrested.
Kind Glory’s lawyer in India, Shashank Agrawal of SSA Legal, said the parties “have commercially settled the matter in record time” but did not comment on the basis of the settlement, or the cause of the incident.
