Greater ChinaOffshoreShipyards

Court orders Yuexin Ocean Engineering to refund owner

Guangzhou Maritime Court has ruled that offshore builder Yuexin Ocean Engineering must refund and compensate UAE company Emphor in a shipbuilding contract dispute case.

Emphor ordered an AHTS vessel at Yuexin in 2014 and later filed a lawsuit against the shipyard claiming that the shipyard didn’t deliver the vessel on time according to the contract terms.

The court has ruled Yuexin to refund Emphor $2.78m of advance payment and pay another $360k as compensation.

Yuexin has not received any new orders in the past two years, and currently has 11 OSVs under construction.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
Back to top button
Close
Close