ERRIA AS Canceled Last Newbuilding Contract with Rushan Shipyard (China)

ERRIA AS  has canceled the last newbuilding contract with Rushan Shipyard Co. Ltd, as a part of the company’s reconstruction policy.

Previously, Erria AS concluded contracts for delivery of three new chemical tankers with the Chinese shipyard Rushan Shipyard Co. Ltd. in Rushan. The construction contract for the first newbuild vessel was canceled in 2009 and the second in December 2011. With this third cancellation of the vessel under construction, that was supposed to be delivered in May 2012, Rushan Shipyard Co. Ltd. could expand the current or initiate a new arbitration against Erria AS.

The shipyard started arbitration against Erria AS in London to resolve the legality of the cancellation of newbuilding contracts. Erria AS has together with Danish Bank (as assignee of Erria AS’s rights under the construction contract) raised a counterclaim against the shipyard for repayment of the Group’s prepaid installments paid during the construction contract.

Until today, the parties exchanged charges, defenses and rejoinders.

Shipbuilding Tribune Staff, April 24, 2012; Image: rszc

Share this article

Follow World Maritime News

Posted on April 24, 2012

In Depth>


<< Nov 2015 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Salvage Law & Practice Seminar

Salvage Law & Practice at a glance:
Lloyd’s Open Form – contract design, administration and recent cases
special compensation awards…

read more >

CWC Sixteenth World LNG Summit & Awards Gala Dinner

The summit will provide a perfect opportunity to understand how key players are responding to the price fluctuations and what the outlook…

read more >

International WorkBoat Show

The event offers considerable opportunities to participating business houses to strengthen their business networks, and get familiar with…

read more >

Marintec China 2015, Shanghai, China


Facts & Figures of Marintec China:
• The exhibition spread over 70,000 square metres in Shanghai New International Expo Centre
• Over 1,700 exhibiting companies were participating in the event
• 57,888 quality trade visitors from 88 countries/regions
• 16 national & regional pavilions from Austria, China, Denmark, Finland, France, Germany, Hong Kong SAR, Japan, Korea, the Netherlands, Norway, Singapore, Sweden, Taiwan region, the United States and the United Kingdom were organised

About Marintec China

Marintec China 2015 will be held on 1-4 December 2015 in Shanghai. With increasing worldwide recognition and reputation throughout the past three decades, the exhibition is attracting an increasing number of high-profile exhibitors and visitors from around the world.

Regarded as the only gateway to the Asian maritime market, Marinetech China has become larger than ever! Being the most recognized maritime trade show in Asia, Marintec China is definitely an international marketplace for buyers to source from international sellers showcasing their latest marine, ship design, offshore engineering and port technology.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. Marintec China 2013 has broken all the previous records attracting more than 1,700 exhibiting companies from 32 countries /regions and 16 group pavilions, making it the most international and authorised industry event in Asia. Taking place once every two years, Marintec China 2015 edition is a unique opportunity for suppliers to connect with new customers and re-connect with existing contacts from the region, and final one to present new products and services to the trade visitors and experts from all parts of the world.

Visit Marintec China 2015 website for more details

read more >