Gadot Chemical Tankers Wins US$80-million International Arbitration

The sale of Gadot Chemical Terminals and Tankers Ltd. by Israel Discount Bank (TASE: DSCT ) will be able to move forward, after the London Maritime Arbitration Association ruled in the company's favor in the hearing against a Chinese shipyard from which it ordered four ships in 2007, reports Globes [online], Israel business news.

The arbitration tribunal awarded Gadot $80 million, which it will receive in a few weeks, and which will reduce its debt and boost its value.

Source: Globes [online], Israel business news