Search results for: Jiangsu Sainty Marine Corp

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  • 26 August 2015
    Business & Finance

    Denmark’s Clipper Group has purchased two 64,000 dwt SDARI64 newbuilding bulk carriers being built by Sainty Shipbuilding in Yangzhou, China in a resale deal. Namely, the duo form part of an order for four 64,000 dwt bulkers originally placed by with the financially troubled yard by Greek shipowner National Energy Transportation (NET). “The vessels, to be named […]

  • 12 May 2015
    Business & Finance

    Struggling shipbuilder Jiangsu Sainty Marine Corp said that Precious Shipping has declined to take delivery of a 64,000 DWT bulker duo from the yard. Namely, Thailand’s dry bulk shipping company said that the bulkers did not meet the fuel consumption standards set by the company. Shenzhen-listed Sainty Marine disclosed in a stock exchange filing that Precious Shipping […]

  • 26 August 2015
    Business & Finance

    Denmark’s Clipper Group has purchased two 64,000 dwt SDARI64 newbuilding bulk carriers being built by Sainty Shipbuilding in Yangzhou, China in a resale deal. Namely, the duo form part of an order for four 64,000 dwt bulkers originally placed by with the financially troubled yard by Greek shipowner National Energy Transportation (NET). “The vessels, to be named […]

  • 28 August 2015
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp informed that it has filed for arbitration at London Maritime Arbitration Association over cancellation of a shipbuilding contract. The order relates to construction of three chemical tankers that have been cancelled by an undisclosed owner on August 7 who also sought to return the pre-payment and relevant interest from China Exim […]

  • 28 August 2015
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp informed that it has filed for arbitration at London Maritime Arbitration Association over cancellation of a shipbuilding contract. The order relates to construction of three chemical tankers that have been cancelled by an undisclosed owner on August 7 who also sought to return the pre-payment and relevant interest from China Exim […]

  • 24 July 2015
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp has put four 64,000 tons bulk carriers already constructed by the yard up for sale as the yard seeks fresh funds to ease its financial woes. The troubled shipbuilding company and Ningbo Group had signed a contract to sell the quartet to Corbita Maritime Investment in April 2014, however; the contract was cancelled in […]

  • 18 February 2016
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp revealed that its restructuring has been approved by the Nanjing Intermediate People’s Court. The shipbuilder now has until April 17 to compose a restructuring plan. Jiangsu Sainty Marine added that it is contemplating to continue the shipyard’s business during the restructuring process. If the company fails to accomplish its […]

  • 13 May 2015
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp said that it has agreed with Dutch ship investment company Universal Marine on cancellation of order for construction of four 2,350 TEU boxships. According to Sainty Marine, the quartet was ordered in March 2014, however the construction has not been started as the Dutch firm failed to secure financing for […]

  • 18 April 2016
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine’s first round of auction for the sale of its assets did not attract any buyers after a 24-hour auction period ended yesterday morning. The assets of the financially-troubled shipbuilder are scheduled to be put up for a second auction on April 25 on China’s online auction website Taobao. The starting bid price will […]

  • 30 June 2015
    Business & Finance

    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 […]

  • 24 July 2015
    Business & Finance

    Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp has put four 64,000 tons bulk carriers already constructed by the yard up for sale as the yard seeks fresh funds to ease its financial woes. The troubled shipbuilding company and Ningbo Group had signed a contract to sell the quartet to Corbita Maritime Investment in April 2014, however; the contract was cancelled in […]

  • 1 December 2015
    Business & Finance

    Chinese shipping company Nanjing Hua Hong Shipping has launched legal proceedings against its compatriot shipbuilder Jiangsu Sainty Marine. The shipping company claims that it has not received payment rleated to a ship-purchase contract dating back to 2014. Namely, in April, 2014, the two parties signed a deal on the purchase of three ships, Hua Hai […]

  • 10 June 2015
    Business & Finance

    Chinese shipbuilder Jiangsu Sainty Marine Corp has been faced with another contract cancellation. The troubled shipbuilder announced in a filing to Shenzen Stock Exchange that an undisclosed client has canceled a lake fighter under construction at Nantong Mingde Heavy Industries. The cancellation is attributed to the builder’s inability to deliver the ship on time, i.e., by March […]

  • 30 June 2015
    Business & Finance

    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 […]

  • 14 July 2020
    Business & Finance

    Thailand-listed dry cargo ship owner Precious Shipping has reached a settlement with Chinese Jiangsu Guoxin Corporation, formerly known as shipbuilder Sainty Marine Corporation, in relation to the shipbuilding contracts for eleven 64,000 dwt bulkers. The duo launched arbitration proceedings back in 2016 in London to decide upon whether the owner had the right to cancel […]

  • 26 April 2016
    Business & Finance

    The second asset auction of Shenzhen-listed shipbuilder Jiangsu Sainty Marine has failed as the sale of the company’s assets did not attract any buyers. The 24-hour auction period, which started yesterday morning, was held on China’s online auction website Taobao. The starting bid price was set at CNY 1.72 billion (USD 265.4 million), 20 percent lower than the assessed value of […]

  • 8 July 2015
    Business & Finance

    Nantong Mingde Heavy Industry, a subsidiary of the financially troubled shipbuilder Jiangsu Sainty Marine Corporation, has missed the June 26 deadline to submit its restructuring plan to the Nantong People’s court. The court accepted Nantong’s application for the bankruptcy reorganization on December 26, 2014. China’s bankruptcy law stipulates that administrators or debtors must submit a draft reorganization plan within […]

  • 8 July 2015
    Business & Finance

    Nantong Mingde Heavy Industry, a subsidiary of the financially troubled shipbuilder Jiangsu Sainty Marine Corporation, has missed the June 26 deadline to submit its restructuring plan to the Nantong People’s court. The court accepted Nantong’s application for the bankruptcy reorganization on December 26, 2014. China’s bankruptcy law stipulates that administrators or debtors must submit a draft reorganization plan within […]

  • 3 August 2015
    Business & Finance

    Tongzhou District People’s Court in Nantong officially declared Nantong Mingde Heavy Industry bankrupt on July 31, ending all hopes of restructuring at this financially troubled shipbuilding subsidiary of Jiangsu Sainty Marine Corporation. The court said that Mingde’s request to extend the period for submission of the restructuring plan was denied, after the shipbuilder missed the […]

  • 3 August 2015
    Business & Finance

    Tongzhou District People’s Court in Nantong officially declared Nantong Mingde Heavy Industry bankrupt on July 31, ending all hopes of restructuring at this financially troubled shipbuilding subsidiary of Jiangsu Sainty Marine Corporation. The court said that Mingde’s request to extend the period for submission of the restructuring plan was denied, after the shipbuilder missed the […]

  • 26 June 2014
    Business & Finance

    Arriva Shipping bought the bulk carrier MV “Lappland” from the German company 3.Sommerwiese UG. The formal change of ownership took place on June 25, 2014. The ship was built in 2009 at Sainty Shipbuilding (Jiangdu) Corp Ltd. in China. At present, until mid-September, MV “Lappland” is on time charter (TC) for Navalis Shipping GmbH & Co.KG. […]

  • 31 March 2014
    Business & Finance

    Dutch shipper Universal Marine has placed an order, its biggest yet, for four 2,350 TEU containerships to be built at Sainty Marine Corp. Ltd. The construction of the vessels will begin in 2015, with deliveries scheduled to start from 2016. The total value of the contract is estimated at $166 million. During March, Sainty Marine has […]