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The Issues relating to Security over newbuildings

Over the last two years or so we have had to deal with numerous issues relating to ships under construction at shipyards in Korea, Japan, India, Vietnam, Indonesia, Malaysia and China. These have included issues relating to newbuildings at shipyards which have become insolvent, shipyards which have not been able to secure refund guarantees, shipyards which have been unable to deliver on time due to liquidity problems or due to the yard facilities being incomplete and newbuild contracts involving buyers which have defaulted in their obligations under the contracts and/or their loan agreements.

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Written by: | Categories: Marine Money, Offshore Rankings | August 1st, 2011 |

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