ContainersEurope
Siem Shipping vessel sale falls through
Oslo: Siem Shipping has announced that the $6m sale of reefer Honduras Star (10,629dwt, built 1992) has been cancelled.
The company said that the buyer had broker then sale contract when it failed to pay the purchase price within the agreed period. Siem said that it will keep the deposit and also launch a claim against the buyer for damages.
Siem Shipping had announced the transaction in April and said that it would result in a book profit of around $0.4m.