Seven Dongfang Ships Seized

Reuters
Monday, June 11, 2012

Banks have seized seven of Dongfang Shipbuilding's tankers due to outstanding debts

According to Reuters, Credit Suisse and a group of Chinese banks have seized seven of Dongfang Shipbuilding's tankers due to outstanding debts of around $250 million after the Singapore Supreme Court ruled in favour of the creditors, a minority shareholder said.

The Singapore-based shipbuilder was delisted from the alternative investment market of the London Stock Exchange last week after struggling for months to stay afloat in the face of a severe downturn in the maritime industry.

Dongfang was previously contracted to deliver the seven vessels to European-based clients, which later cancelled the orders, former Dongfang chairman Narayanaswamy said, without identifying the clients and the value of the contracts.


 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Oranjewerf Ship Repair becomes Damen Shiprepair Oranjewerf

On 1 July 2015, Oranjewerf Ship Repair, which joined Damen Shipyards Group in 1989, will officially change its name to Damen Shiprepair Oranjewerf. This name

Shell Steps Closer to Arctic Drilling

The U.S. Fish and Wildlife Service authorized the nonlethal, incidental, and unintentional take of small numbers of polar bears and Pacific walrus that result

Transnet Awards Bid for Cape Town Cruise Terminal

Transnet National Ports Authority awarded the V&A Waterfront (Pty) Ltd the status of Preferred Bidder for the development of a cruise terminal at the Port of Cape Town, Transnet said on Tuesday.

Shipbuilding

Meyer Turku Wins TUI Cruises Order for 2 Ships

TUI Cruises GmbH and Meyer Turku Oy signed an agreement for two cruise ships. This order further strengthens the order book of the shipyard, which contains now a high work load until the year 2020.

Oranjewerf Ship Repair becomes Damen Shiprepair Oranjewerf

On 1 July 2015, Oranjewerf Ship Repair, which joined Damen Shipyards Group in 1989, will officially change its name to Damen Shiprepair Oranjewerf. This name

Samsung Bags $4.7bn Order for 3 FLNG from Shell Gas

South Korean shipbuilder Samsung Heavy Industries Co. as won a 5.2 trillion won (US$4.7 billion) order to build three floating liquefied natural gas (FLNG) facilities, reports Yonhap.

Tanker Trends

COSCO Receives Fund for Fleet Renewal

China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million).    It came through China Ocean Shipping,

Team Tankers Appoints Hans Feringa as President and CEO

Team Tankers International Ltd has appointed Hans Feringa as new President and CEO. Feringa is the former President of Stolt Tankers, a division of Stolt-Nielsen Limited.

DryShips Sells Six Aframax Tankers

Dry bulk and petroleum cargo shipper DryShips Inc., through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore contract drilling oil services, announced

Finance

Transnet Awards Bid for Cape Town Cruise Terminal

Transnet National Ports Authority awarded the V&A Waterfront (Pty) Ltd the status of Preferred Bidder for the development of a cruise terminal at the Port of Cape Town, Transnet said on Tuesday.

Samsung Bags $4.7bn Order for 3 FLNG from Shell Gas

South Korean shipbuilder Samsung Heavy Industries Co. as won a 5.2 trillion won (US$4.7 billion) order to build three floating liquefied natural gas (FLNG) facilities, reports Yonhap.

FLEX Acquires LNG Assets from EXMAR

Nicolas Saverys-led Exmar has agreed to integrate its LNG assets and infrastructure with those of John Fredriksen’s Geveran and Flex LNG under a new USD 2.3 billion company – Exmar LNG Ltd.

 
 
Maritime Careers / Shipboard Positions Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0984 sec (10 req/sec)