• BIST 98.469
  • Altın 228,465
  • Dolar 5,7763
  • Euro 6,6901
  • İstanbul 19 °C
  • Ankara 22 °C

SE Shipping Takes Sainty Marine to Arbitration

SE Shipping Takes Sainty Marine to Arbitration
Troubled Chinese shipbuilder Jiangsu Sainty Marine Corporation has agreed with Singapore-based SE Shipping Lines Pte. Ltd. to appoint an arbitrator over a shipbuilding contract dispute.

Sainty Marine was hired in December 2013 by SE Shipping to build a multi-purpose 31,200 dwt vessel, which was to be bareboat chartered to Shungao Shipping, a wholly-owned subsidiary of Sainty Marine, for eight years.

After the deposit was paid, the company launched the construction of the ship, the shipbuilder said in a statement.

However, SE Shipping requested to cancel the order as the vessel delivery had been delayed. In addition, the company claims that Sainty Marine was not able to ensure a refund guarantee.

Sainty Marine said that the arbitration proceedings are likely to impact the company’s profit, but that it was still too early to estimate to what extent.

The shipyard has been hit with several cancellations over the recent period, including that from Thailand’s Precious Shipping which declined to take delivery of a 64,000 DWT bulker duo from the yard as it claimed that the bulkers did not meet the required standards.

This case is expected to go into arbitration as well.

This news is a total 15058 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
  • Service Upgrade From North Europe To West Africa11 August 2015 Tuesday 16:36
  • Second Suez Canal04 August 2015 Tuesday 16:23
  • Matson revises!29 July 2015 Wednesday 14:41
  • Tanker Giant Reborn03 July 2015 Friday 11:08
  • China Allows Valemaxes into Its Ports03 July 2015 Friday 10:49
  • Arctic oil rig departs Seattle-area port despite protest01 July 2015 Wednesday 12:46
  • SE Shipping Takes Sainty Marine to Arbitration30 June 2015 Tuesday 13:27
  • Cement carrier runs aground off Swedish coast30 June 2015 Tuesday 13:03
  • 'Shipping Industry concerned about approach to energy exports in U.S.'30 June 2015 Tuesday 11:48
  • Paragon Delays Kamsarmax Deliveries09 June 2015 Tuesday 15:39
  • All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
    Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |