Coastal Contracts slapped with arbitration notice after contract cancellation

Malaysian marine services and vessel provider Coastal Contracts was recently served with a notice of arbitration from one of its suppliers for an alleged wrongful termination of a shipbuilding contract. 

The notice was served to one of Coastal Contracts’ subsidiaries for terminating the shipbuilding contract back in July 2016 due to builders’ alleged failure to deliver the vessel on time and in accordance with the terms and conditions of the shipbuilding contract.

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