Thursday, 18 June 2009
d'Amico International Shipping S.A., an international marine transportation company, operating in the product tanker market, yesterday announced that GLENDA International Shipping Ltd., the joint venture company between d'Amico International Shipping S.A. and Glencore Group, gave notice to SLS Shipbuilding Co. Ltd Tongyeong Korea shipyard to terminate and rescind the new building contract related to the 51,000 DWT product /chemical tanker vessel bearing the Hull n° S510.
The notice has been given as a result of excessive delays occurred in the final expected vessel's delivery. In accordance with the relevant contract and availing itself of the rights arising from it, GLENDA demanded to the shipyard to refund the full amount of all advances settled on account of the vessel together with accrued interest thereon.
Source: d'Amico
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