Korea Shipbuilding Delivering Six Tankers To Norwegian Owners

Five years after they were ordered, delivery by Korea Shipbuilding & Engineering Corp. (KSEC) of six advanced combination carriers worth $171 million has begun to two Norwegian owners. KSEC said four of the 37,000-dwt products/ore/ bulk/oil carriers were built for Klavness Co. and two for Havtor Co.

under contracts signed in 1983 for delivery in 1986.

When the original delivery time arrived, the Norwegian firms cited technical problems with the vessels and refused to accept delivery unless the price was cut. After longrunning arbitration, KSEC reduced the price of each vessel by $6 million.

Klaveness announced that with technical alterations, the six vessels will be able to trade as originally intended.

Maritime Reporter Magazine, page 15,  Sep 1988

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.