Four 64,000dwt Bulkers Up for Grabs at Sainty Marine

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 November 2014 following the buyer’s failure to meet contractual obligations relating to payment.

Sainty Marine has been looking for a buyer for the ships ever since. Nevertheless, the downturn of the bulk shipping market further hampered the shipyard’s efforts to retrieve the invested money as the prices of ships continued to fall.

The company said it could not yet determine how the sale would affect its business results.

The announcement comes following Sainty Marine’s exclusion from Nantong Mingde Heavy Industry’s restructuring plan, as the company has been stripped from the qualification to take over the yard as initially planned.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Dec 2019 >>
25 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

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >