World News
Singapore's Yujin Gets $6M Refund from Cancelled Tanker Order
Monday June 24, 2013
Singapore's Yujin International Ltd (Yujin) says it has received a refund of approximately $6 million following the cancellation of an order it placed with a shipyard in China for two chemical tankers.
The settlement has taken a year to reach, but tanker owner and charterer Yujin said it was repaid all monies it paid upfront plus interest.
Ship & Bunker reported last year that Yujin had cancelled the order for the two new-build 5,500 DWT chemical tankers, originally placed in March 2009 for delivery in the last quarter of 2010, after the yard failed to meet a number of revised delivery deadlines.
Yujin have not named the shipyard, but a sources have previously indicated it to be Wuhan Nanhua.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 628.00 | 1.00 | 736.50 | 0.50 |
| Rotterdam | 569.00 | 10.00 | 730.50 | 23.00 |
| Houston | 591.00 | 3.50 | 770.50 | 6.00 |
| Fujairah | 626.50 | 4.50 | 886.50 | 5.00 |
| Global 20 Ports Average | 644.00 | 2.00 | 825.50 | 0.00 |
| Global 4 Ports Average | 603.50 | 0.50 | 781.00 | 3.00 |
| Global Average Bunker Price | 700.00 | 0.00 | 883.50 | 0.50 |
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