SLS to Refund Gulf Navigation for Cancelled Oil Tankers

15 June 2010 (Last Updated June 15th, 2010 18:30)

Gulf Navigation has received a refund of $35m from Korean shipbuilder SLS Shipbuilding for one of two cancelled oil tanker contracts. The Dubai-based oil tanker owner has terminated the contract due to delays in the delivery of the tankers. Gulf Navigation has pledged an ord

Gulf Navigation has received a refund of $35m from Korean shipbuilder SLS Shipbuilding for one of two cancelled oil tanker contracts.

The Dubai-based oil tanker owner has terminated the contract due to delays in the delivery of the tankers.

Gulf Navigation has pledged an order for two 44,000dwt product/chemical tanker vessels with the Korean shipbuilder.

The company has received $70m with interest for the two cancelled contracts.