Gulf Nav seek eco upgrade

qinxingchen

Gulf Navigation is in discussions with a shipyard to upgrade a pair of newbuildings to modern fuel-efficient designs. The yard involved had sent the Notices of Termination for the two newbuildings to Gulf Nav last year, since the owner had demanded to change the contract terms. Gulf Nav is said to be ready to take the matter to arbitration and sources said the owner has already paid deposits worth AED 106.5m ($29m). Meanwhile, in the third quarter report, Gulf Nav revealed it had sought to redesign the two newbuilding to make them economical and is now continuing with the yard on the matter. The owner refused to disclose the yard, however, according to Clarksons, the only newbuildings currently linked to Gulf Nav are VLCC duo at Jinhai Heavy Industry of China. Published : April 3, 2013