Sinotrans has agreed to purchase sister vessels ER Beilun and ER Brazil from Germany’s ER Schiffahrt. The ships are of 178,978 dwt in capacity each and were built in 2010 by Hyundai Heavy Industries. They will be delivered to Sinotrans by November this year.
“The acquisitions will enable the company to expand its self-owned fleet of dry bulk vessels,” Hong Kong-listed Sinotrans said.
Meanwhile, Sinotrans said it has exercised its rights to terminal the finance lease agreement and withdraw a vessel from the service of a charterer on 30 October as the charterer had failed to pay the hire fees.
“The company is in the process of negotiating a resolution with the charterer and the shareholders of the charterer in order to resolve the matter amicably,” Sinotrans said.
It added that the charterer is facing financial difficulties as a result of the current market conditions.
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