MC Shipping reaches settlement over dry-docking claim

MC Shipping reaches settlement over dry-docking claim Monaco-based ship owner MC Shipping Inc. has accepted a settlement proposal from the previous charterers of the vessel “La Forge,” who lodged a claim following the extended dry-docking of the ship last year.
   The settlement will result in a charge of $905,292 above amounts previously accrued for this incident that MC Shipping will book in its 2006 accounts as an additional non-recurring expense.
   “While we would have liked to reach a simultaneous settlement with our charterers and technical managers responsible for planning and implementing the dry dock, this was not possible,” said Tony Crawford, MC Shipping’s chief executive officer. “However, with the help of our legal advisors, we will continue to seek full recovery from the third party. We are pleased to say that this is the last remaining liability on our extended 2006 dockings.”