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Paragon Shipping cancels orders for 4,777-TEUers after bulk conversion
THE conversion of two bulk carrier orders into containership orders has resulted in Athens-based Paragon Shipping cancelling one of two 4,777 TEU wide-beam box ships ordered from China's Zhejiang Ouhua Shipbuilding in March 2011.
The remaining ship on order is scheduled for delivery in the second quarter of 2014, and the contract price has been lowered to US$55 million, down from $57.5 million, reports Alphaliner.
Greece-based Box Ships, which specialises in the ownership of container ships and is also managed by Allseas Marine, has an option to buy the remaining vessel.
Box Ships was set up by Paragon in April 2011 to harbour the containerships in which it started to invest.
Box Ships owns nine containerships, eight of which are on charter, after one ship was redelivered by Maersk Line. The ships range in size from 3,426 to 6,589 TEU.
The remaining ship on order is scheduled for delivery in the second quarter of 2014, and the contract price has been lowered to US$55 million, down from $57.5 million, reports Alphaliner.
Greece-based Box Ships, which specialises in the ownership of container ships and is also managed by Allseas Marine, has an option to buy the remaining vessel.
Box Ships was set up by Paragon in April 2011 to harbour the containerships in which it started to invest.
Box Ships owns nine containerships, eight of which are on charter, after one ship was redelivered by Maersk Line. The ships range in size from 3,426 to 6,589 TEU.
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