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Jinhui cancels bulker newbuilding contract

Jinhui Shipping and Transportation has cancelled a contract with Mitsubishi Corp to build a supramax bulker at Tsuneishi Heavy Industries.

Marcus Hand, Editor

September 20, 2013

1 Min Read
Kalyakan - stock.adobe.com

Jinhui subsidiary Jinqing contracted Mitsubishi in December 2007 to acquire a 58,100 dwt bulker for JPY4.5bn ($45m).

The Hong Kong-based owner said Mitsubishi had failed to ensure the vessel was built to the terms of the contract at Tsuneishi’s yard in the Philippines.

“In particular despite repeated requests from Jinqing, Mitsubishi has ignored and further failed to procure the builder to conduct sea trials as required by the contract, yet has not withstanding, declared the vessel as ready for delivery.

Jinquing is now pursuing the repayment of $23m in pre-delivery installments from Mitsubishi.

About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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