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Business & Finance, Research & Development
Leeghwater, a Dutch pilot project proposing to install fifty to seventy offshore wind turbines off the coast of Zeeland, has been cancelled, Dutch media reports. The project was abandoned due to high costs and lack of interest among companies, the project initiator TKI Wind op Zee confirmed today. The construction of the EUR 1 billion project would have begun […]
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As the construction of its newbuildings continues to be substantially delayed, Bergen-based shipping and tank terminal company Odfjell SE said that it “will most likely” cancel the remaining five liquefied petroleum gas (LPG) carriers it has on order in China. In late September, the company cancelled three of the newbuilding contracts. All instalments, including accrued interest, for the […]
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South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) said that an order worth KRW 1.58 trillion (USD 1.42 billion) has been cancelled. According to the company’s stock exchange filing, the order was for one fixed oil production platform, placed in 2013 by a European shipowner. DSME added that the termination is not expected to have an […]
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Kleven Verft AS has canceled a contract for delivery of a subsea crane with TTS Group. The contract, announced on 24 May 2013, was awarded with an initial cancellation right that was valid until 1 August. This cancellation right was later extended until 1 September. In a filing to Oslo Bors, TTS said: “Due to […]
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Kleven Verft AS has canceled a contract for delivery of a subsea crane with TTS Group. The contract, announced on 24 May 2013, was awarded with an initial cancellation right that was valid until 1 August. This cancellation right was later extended until 1 September. In a filing to Oslo Bors, TTS said: “Due to […]
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Oslo-listed shipowner and dry bulk transporter Pioneer Marine reported a net loss of USD 13.9 million for the first quarter of 2016, mainly attributed to the charges of USD 8.7 million which resulted from the termination of five newbuilding contracts. Pioneer Marine’s commitments on its newbuilding program amount to USD 30.1 million which will be funded from committed loan facilities available on […]
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ZIM Integrated Shipping Ltd. reached an agreement with Samsung Heavy Industries of South Korea to immediately cancel orders for 5 vessels and postpone delivery of other vessels to 2016. The company also has an option to cancel additional 4 orders, pending shipyard’s approval. In addition, ZIM will be refunded for advance payments in the amount […]
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Greek dry bulk ship owner Diana Shipping has received a full refund payment in the amount of USD 9.4 million following the cancellation of the shipbuilding contract for a Kamsarmax dry bulk carrier. The shipbuilding deal with China’s Yangzhou Dayang Shipbuilding was cancelled in early November due to a delay in delivery of 150 days after the original […]
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Germany’s Wind Energy Agency WAB has cancelled this year’s Windforce 2016 offshore wind trade fair previously scheduled to take place in Bremen from 7 – 9 June. The Windforce conference will go ahead as planned, but without an accompanying exhibition, WAB said in a statement. Instead, WAB’s trade show activities will solely focus on WindEnergy Hamburg, held from 27 […]
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Business & Finance, Exploration & Production
Maersk Drilling, an offshore drilling contractor, has informed that a Norwegian oil firm Statoil has cancelled a contract for one of its drilling rigs. The offshore driller afterwards signed a new agreement whereby the rig is now under contract with Total. Statoil has cancelled the contract for the harsh environment jack-up rig Maersk Gallant. A […]
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ZIM Integrated Shipping Ltd. reached an agreement with Samsung Heavy Industries of South Korea to immediately cancel orders for 5 vessels and postpone delivery of other vessels to 2016. The company also has an option to cancel additional 4 orders, pending shipyard’s approval. In addition, ZIM will be refunded for advance payments in the amount […]
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Polarcus has received cancellation notice for the XArray marine seismic acquisition project in the Asia Pacific region. Polarcus received the original contract in December 2019, and planned to start the project in Q2 2020. The client has decided not to proceed with this project and has terminated the seismic data acquisition contract. Polarcus is exploring […]
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Business & Finance, Technology
The previously announced share purchase by Seabased Holding AS (SHAS) in Seabased AB from Leijon Engineering AB, granting it 50,25% of the voting rights, has been cancelled.
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Jinqing Marine Inc. (Jinqing), a wholly-owned subsidiary of Jinhui Shipping and Transportation Limited, has cancelled the contract with Mitsubishi Corporation signed on 14 December 2007 for the acquisition of a deadweight 58,100 metric tons type bulk carrier at a purchase price of JPY4,500,000,000. Under the terms and conditions of the contract, Mitsubishi has ordered Tsuneishi […]
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Nine of the 14 tankers nominated by Iraq’s State Oil Marketing Organization (SOMO) have departed from the Turkish port of Ceyhan, having been left stranded at the anchorage with their orders cancelled, Platts informed citing daily terminal status reports from Monday. It is expected that five more tankers would follow suit as they are negotiating damages for […]
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Nine of the 14 tankers nominated by Iraq’s State Oil Marketing Organization (SOMO) have departed from the Turkish port of Ceyhan, having been left stranded at the anchorage with their orders cancelled, Platts informed citing daily terminal status reports from Monday. It is expected that five more tankers would follow suit as they are negotiating damages for […]
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According to figures from Japanese classification society Class NK, as of April, over 1,000 newbuild orders around the world were cancelled. Class NK said it expected the number of cancellations to rise as the year progressed. It said that cancellations now extended to vessels that were tentatively reserved at shipyards and letters of intent for […]
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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 […]
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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 […]
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Algoma Central Corporation cancels all four newbuild construction contracts with Uljanik.
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Today, DFDS has cancelled the contracts with the German shipyard P+S Werften GmbH, Stralsund, concerning the construction of two freight ships (ro-ro) ordered in November 2010. The contracts are cancelled on account of the shipyard’s breach of several terms of the contracts. Thereby, DFDS’ investment commitment for the newbuildings of around DKK 1.0bn ceases. The […]
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Thailand-listed dry cargo ship owner Precious Shipping has cancelled the final Ultramax newbuilding order at China’s shipyard Taizhou Sanfu Ship Engineering. The company said that the final shipbuilding contract for hull a 63,345 dwt bulk carrier was automatically terminated on May 31, 2017 as Sanfu was not able to fulfil one of the conditions precedent. Precious Shipping, […]
