Singapore: Groda Shipping & Transportation is reneging on long term charter deals on a pair of product carriers with First Ship Lease Trust. FSL Trust Management said Groda Shipping & Transportation had told the trust it did not intend to continue making full lease payments on the 47,000 dwt product carriers Verona 1 and Nika 1. For the month of May Groda only made full payment on the Nika 1 but not on Vernoa 1. "FSL Trust Management has been informed by Groda Shipping that from June 2010 onwards, full payments should not be expected for either vessel," the company said. The two vessels were acquired by FSL in 2007 with a seven year, plus three year option, charterback to Groda. The vessels were fixed at a rate of $20,700 per day. The two product tankers continue to be employed on a contract of affreightment to Russian-controlled energy company OJSC Rosneft Oil Company. "FSL Trust Management is currently in discussions with Groda Shipping and exploring available legal and commercial options, the trust said. [04/05/10]
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