Shanghai: Sainty Marine has announced that it has signed shipbuilding contracts with four single vessel companies controlled by Celsius Shipping for the construction of four 24,600dwt chemical tankers at Mingde Heavy Industry.
The total value of the deal is around $160m, with Sainty Marine and Mingde Heavy Industry joint sellers of the ships.
Mingde Heavy Industry is a leading shipbuilder for chemical tankers, with orders for more than 30 chemical tankers on hand. Sainty Marine is currently working to restructure the debt-ridden shipbuilder as its largest creditor.
Celsius Shipping ordered seven chemical tankers at Mingde Heavy Industry in April 2014. Jeppe Jensen, president of Celsius Shipping, said recently in an interview with Splash, “We follow the re-structuring closely. It seems as the re-structuring was necessary. We note that the principal creditor and the appointed administrator manages the process in the best interest of the yard and with the intent to preserve contracts and fulfil the yards obligations. We have reason to believe this is positive for our orders.”