Ezra cancels newbuilds at Karmsund

Ezra Holdings Ltd in Singapore has announced that is has been informed by the Norwegian shipyard Karmsund Maritime Service (KMS), located on Karm?y, near Haugesund, that it will not be able to complete and deliver the two vessels it is building for Ezra Holdings’ subsidiary Lewek Shipping in accordance with the contracts for the vessels. As a result, Lewek Shipping is cancelling the contracts and, under the terms of the contracts, is entitled to a refund of the advance payments made to KMS, totalling NKr 186 million.

KMS was building two 91 metre VS 490 anchor handlers for Lewek.