The myriad parties involved in the worldwide legal dispute centered on a Gourdomichalis brothers' bulker will meet in Oregon federal court next week to try and hash out a resolution.
Judge Michael Mosman ordered all parties involved in the two lawsuits — one that seized the ship, the other that seized the cargo aboard it — to submit letters outlining settlement offers and proposals by noon Thursday.
A settlement conference will be held Monday morning.
The issue in question stretches back to 2015, when George and Stathis Gourdomichalis abandoned the 73,500-dwt Adamastos (built 1995) off the coast of Brazil.
Since then, Pacific Gulf Shipping has attempted to collect a $22.6m arbitration award won in London by seizing the 52,500-dwt Vigorous (built 2005). The Danish company first tried and failed in South Africa, but succeeded in December after filing suit against a slew of Gourdomichalis-connected companies in Portland, Oregon.
The Vigorous has been docked in Longview, Washington, laden with wheat destined for Yemen.
Al-Saeed Trading Company, which was expecting the wheat, argued for a quick resolution, as wheat is a staple in the war-torn country where hunger and disease have become widespread.
Two weeks ago, though, the cargo was seized by Medmar, a Greek shipbroker who sued Al-Saeed and subcharterers Singapore-based Anglo Eastern Navigation and Emirati Midstar FZE, alleging they owed $3.4m per their contract.
If a resolution is not reached and the Pacific Gulf case goes to trial, a verdict may not be rendered until the summer. According to a proposed case schedule, a trial would not happen until June.
No schedule has been filed in the Medmar case.
