Sainty Marine goes into arbitration with Celsius Shipping

Sainty Marine goes into arbitration with Celsius Shipping

Financially troubled shipyard Sainty Marine has announced that it has gone into arbitration with a shipowner, which is believed to be Celsius Shipping, at London Maritime Arbitration Association on the shipbuilding contracts for three 24,000dwt chemical tankers.

Sainty Marine said that the shipowner has notified the shipyard to cancel the three ships and applied with China Exim Bank to return the pre-payment and relevant interest.

The shipyard believes that the shipowner has no right to cancel the orders and ask for refund.

The three ships are among many orders cancelled by shipowners following the bankruptcy of Mingde Heavy Industry.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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