Siem Shipping vessel sale falls through

Siem Shipping vessel sale falls through

Oslo: Siem Shipping has announced that the $6m sale of reefer Honduras Star (10,629dwt, built 1992) has been cancelled.

The company said that the buyer had broker then sale contract when it failed to pay the purchase price within the agreed period. Siem said that it will keep the deposit and also launch a claim against the buyer for damages.

Siem Shipping had announced the transaction in April and said that it would result in a book profit of around $0.4m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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