Monday, October 15, 2012

Sungdong gallops toward orders

Sungdong gallops toward orders

Sungdong Shipbuilding & Marine Engineering, now in the process of debt restructuring under an agreement with its creditor group, is galloping toward new orders.

The Korean shipbuilder signed a contract to build a capesize bulker with compatriot shipowner last month and recently it booked orders for two purse seiners from Sajo Industries and Sajo Oyang.

Moreover, Sungdong is expected to win a pair of shuttle tankers and suezmax tanker from Greece within this year, as well as additional Floating Storage Offloading unit.

Meanwhile, Sungdong has run into a problem regarding livestock carrier deal contracted with Pembangunan Buku Hijau Holdings (PBHH) of Malaysia during the first half of this year.

Even the shipyard has been provided refund guarantee for the project, PBHH suggested contract modification to two vessels from 10. But the owner is said to have failed to make a down payment by deadline.

Published : October 10, 2012

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