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Marmaras Navigation says it will take disputed pair of Sungdong capes

A widely reported cape newbuilding sale from South Korea’s Sungdong Shipbuilding has failed, according to sources.

The 180,000 dwt Maria D, also known by brokers as hull number H1202, was reported sold mid-November for just under $40m. Online portal values the ship now at around $34 m.

The vessel is one of a series ships originally ordered by Greece’s Marmaras Navigation in in 2013, at a price of $46.5m each. Since then these ships have become the source of much conjecture and debate. The financially troubled Sungdong reportedly turned owner and laid a trio of capes, including the Maria D, for sale. There has been a dispute between Marmaras and Sungdong over the three bulkers, according to market players.

A Marmaras official told Splash that the Greek company will now take delivery of Maria D and another ship shortly.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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