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>

Events>

<< Oct 2016 >>
MTWTFSS
26 27 28 29 30 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
31 1 2 3 4 5 6

MARINE VIETNAM 2016

MARINE VIETNAM 2016 is the only specialized Shipbuilding and Maritime event in Vietnam that brings together an international congregation…

read more >

Arctic Shipping Forum North America

The ASF Arctic Shipping North America 2016 Innovation Award will be presented to a company or individual that has developed an innovative idea…

read more >

Singapore International Bunkering 2016

SIBCON 2016 will be about perspectives, conversations, dialogue, and above all networking. With all discussions under Chatham House rules…

read more >

TOC Americas

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers. Over time, TOC has evolved and whilst they continue to deliver the highest quality technical content in line with their heritage, they also recognise that they must now hear from stakeholders higher up the cargo chain. Therefore, there are now two distinct elements to the event:

The exhibition is a showcase for port & terminal technology and operations plus TECH TOC, the free to attend technical conference aimed at terminal operators and their suppliers. Many suppliers come together to showcase cutting edge solutions to their clients, the terminal operators and ports.

More recently, the events now placed a new focus on the container supply chain making them the premier business and networking event for the stakeholders, including shippers, carriers and 3pl’s as well as the global operators and port authorities. This conversation takes place in the more recently created Container Supply Chain Conference.

More info

read more >