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.
