China’s Qindao Seawin Biotech, The Chines fertilizer company who sent pathogens contained organic fertilizer to Sri Lanka claims 8 million USD as compensation for the loss occurred due to the rejection of the shipment. The Chinese Company has made these claims through now applied to Sri Lanka through a Singaporean arbitration agency.
According to company sources, they have also requested to appoint a three-member tribunal to recover the compensation from the Colombo Commercial Fertilizers Company, who was the importer.
Of the three members to be appointed to this Arbitration Tribunal, Company has requested to appoint two members from both parties to be appointed as members of the relevant parties.
The company states that Sri Lanka has breached the agreement to obtain fertilizer from its company and has also failed to pay the relevant amount.
The $ 8 million includes productions cost , Shipping and other charges..
The Hippo Spirit, the bulk carrier the stock was brought to Sri Lanka and remained off the coast around Sri Lanka for more than 50 days has now begun to sail to Singapore and it is expected to arrive there by 09 th December.
