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No cancellations no payment! Ocean shipbuilding understand its disputes

View:756 times  Time:2016-12-30
Greek shipowners Euroseas said recently that will use the deposit has already been paid two bulk carrier acquisition ocean shipbuilding in the 1 63500 deadweight tons Ultramax type bulk carrier ship "Alexandros P" (hull number DY160), concludes its dispute with ocean shipbuilding.
In 2014, Euroseas in ocean shipbuilding order book made 2 63500 deadweight tons Ultramax type bulk carrier ship, at about $27.7 million each, 2 bulk carrier ship hull Numbers DY160 and DY161 respectively.
In August of this year, Euroseas citing delays has revoked the ocean ship Hull DY160 and Hull DY161 orders. The two new shipbuilding originally scheduled to be held in the fourth quarter of 2015 and delivered in the first quarter of 2016. Then Euroseas request shipyard to return the ship's installment payments and related costs, the two sides have cancellations and refunds submitted to arbitration.
Euroseas now agree with ocean shipbuilding, will use has been paid to Hull DY160 and sister ship Hull DY161 build deposit about $17.1 million deposit to buy "Alexandros P"; Before completing the acquisition, Euroseas also need to pay about $500000 in cash. This means Euroseas will be equivalent to the original price of a 62% price "Alexandros P". In addition, the sister ship DY161 cancellations results remain unchanged. After delivery, the ship will be named "Alexandros P".
Euroseas, chairman and chief executive of Aristides Pittas, said the deal ultimately in the best way to solve the disputes between the company and shipyard. "Alexandros P" is a modern ecological new shipbuilding, comply with the latest regulatory requirements, and be able to reflect the latest technology. Including 2016 earlier receive Camden sal type bulk carrier "Xenia", this 2 new shipbuilding delivery will drive Euroseas fleet updates, and more competitive after the bulk carrier market rate. The agreement also provides the company with a stable balance sheets, so that the company can grasp the market opportunities.
Euroseas to be received in January 2017 "Alexandros P". Before receiving new ship, Euroseas on December 27, to conduct a preliminary examination, the ship delivery "Alexandros P" success depends on the test results.
Previously, Euroseas also announced acquisition of the other two bulk carrier "RT Dagr" and "Capetan Tassos" wheel, respectively, in December 2016 and January 2017 delivery. In "Alexandros P" and after delivery of the 2 new ship bulk fleet, the company will reach 15 ships, including 1 kamm thrall type bulk carrier vessel, four panamax bulk carriers, 1 large handy-size bulk carrier vessel and 1 big handy-size bulk carrier. In addition the company also owns eight regional container ship

From: JiangSu GuanYu Machinery Manufactring Co.,Ltd.

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