Shagang Shipping defaults on $4.8m
Chinese firm Shagang Shipping has defaulted on approximately $4.8m on charter payments for a dry bulk vessel to Greece-based Diana Shipping, Seatrade Asia reports.
The vessel MV Houston continues to operate in accordance with the terms of the charter. The termination date of the charter is October 2014, according to Diana Shipping.
“The company is taking all necessary steps to recover the amounts owned to it under the charter, although there can be no assurance that it will be successful in doing so,” Diana Shipping said in a statement last Friday.
The Greek shipping firm inked the charter agreement with Shagang Shipping in November 2009. The charter contract provides for a minimum of 59 to a maximum of 62 months at a gross rate of $55,000 per day.
The 177,729 dwt bulk carrier was built jointly by Shanghai Jiangnan-Changxing Shipbuilding and Shanghai Waigaoqiao Shipbuilding in China.
The vessel MV Houston continues to operate in accordance with the terms of the charter. The termination date of the charter is October 2014, according to Diana Shipping.
“The company is taking all necessary steps to recover the amounts owned to it under the charter, although there can be no assurance that it will be successful in doing so,” Diana Shipping said in a statement last Friday.
The Greek shipping firm inked the charter agreement with Shagang Shipping in November 2009. The charter contract provides for a minimum of 59 to a maximum of 62 months at a gross rate of $55,000 per day.
The 177,729 dwt bulk carrier was built jointly by Shanghai Jiangnan-Changxing Shipbuilding and Shanghai Waigaoqiao Shipbuilding in China.