The protracted sale of a yard belonging to SPP Shipbuilding has hit another delay, with Samla Midas Group, the potential buyer, now wishing to change the final sale price having carried out due diligence on the yard.
SPP, which is very rare in South Korea being in the black for its latest financial results, is close to securing a sizeable order from Iran for a series of product tankers.
Samla Midas Group was the chosen firm by creditors to take over one of the three yards controlled by SPP. Samla Midas also owns Korea Line Corporation.