Odfjell Terminates Thipbuilding Contracts in China

Wednesday, September 29, 2010

January 2008 Odfjell entered into shipbuilding contracts with Chongqing Chuandong Shipbuilding Industry, China (CCSIC), for construction of six (6) stainless steel chemical tankers of 9,000 dwt for delivery between 4Q 2010 and 1Q 2012. The parties have agreed to terminate three (3) of the contracts. Under the termination agreements Odfjell will receive $30m, after repayment of bank loan associated with the three cancelled newbuildings. The remaing three (3) vesseles will be built at CCSIC, and estimated date of delivery is between December 2011 and April 2012. These tankers will replace smaller, owned vessels trading by Odfjell in the Asia Region.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Homeland Security Secretary Visits Ingalls Shipbuilding

Huntington Ingalls Industries' Ingalls Shipbuilding division apprises it has hosted a visit by Secretary of Homeland Security Secretary Jeh Johnson and U.S. Rep.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Salvage 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: 0.2141 sec (5 req/sec)