Jinhui Shipping and Transportation and its subsidiary companies, Goldbeam Shipping, Jin Kang Marine and Goldbeam International, have succeeded in having an indemnity claim struck out that was brought by Singapore's Parakou Shipping.
Admiralty Court judge Anselmo Reyes dismissed Parakou's claim, which had been lodged as part of a complicated dispute over a failed ship charter, on Wednesday.
Yet lawyers for Parakou Shipping said it could appeal against the decision in Hong Kong's Court of Appeal.
On Thursday, the South China Morning Post reported that Jinhui companies lost and Justice Reyes found in favour of Parakou Shipping, but this was incorrect.
Justice Reyes will give the reasons for his decision in a written judgment next week. But his decision means the Jinhui companies have won both legal cases involving the charter party dispute with Parakou, after Jinhui's company Galsworthy won an arbitration in London earlier this year.
Cash deposits totalling about US$44.4 million, which the Jinhui companies had to pay into court in September last year as security for Parakou's indemnity claim, are likely to be repaid to the Jinhui companies. Jinhui's claim for legal costs will, if any appeal fails, be paid from monies in an escrow account held by Parakou's solicitors as security for costs.
The wrangle developed after Galsworthy agreed to charter the 52,454 deadweight tonne dry bulk cargo ship Jin Kang to Parakou Shipping through Clarksons Asia, acting as the ship broker in June 2008.
