Thursday, December 6, 2012

[Ship Building] KDM renews newbuilding contract

In connection with the information published on 16 July 2012, the management of Ukraine's KDM Shipping Public Limited discloses that the Company has signed renewed shipbuilding contract with China Machinery Engineering Corporation and Jingjiang Nanyang Shipbuilding Co. Ltd.KDM renews newbuilding contract

Following changes have been introduced into the Shipbuilding Contract:

1. Increase of the number of newbuild ships from 4 to 6 dry bulk cargo vessels of 6,000 Deadweight tons (DWT) and a draft of 4.11 meters;

2. Price for each vessel shall be USD 8,482,000 (reduced from USD 13,477,500 under the original contract terms) payable in 4 installments with a 20% down payment.

Under the contract terms, ship construction shall begin in 2013 with delivery of first ship within 15 months and last ship within 27 month from start construction.

Published : December 5, 2012

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