SPP in negotiations for up to 10 Indonesian MR tankers

South Korea’s SPP Shipbuilding is in negotiations for what could be a major turnaround order.

The yard, which has had no orders for more than 18 months as refund guarantees were banned as part of a tricky restructuring, is in negotations with an Indonesian firm for a series of product tankers.

Setiawan Djody, chairman of Indonesia’s SETDCO Group, has visited the yard to discuss a deal for six firm MR tankers plus four options.

SPP is in the midst of being sold off by creditors, with local construction firm Samra Midas Group the sole bidder for the yard.

The refund guarantee ban had threatened to see SPP’s orderbook dry up later this year.


Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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