Brief: China Ocean Industry Group Updates On Status Of Four Vessels

China Ocean Industry

03/01/2019 14:01

Jan 3 (Reuters) - China Ocean Industry Group Ltd  0651.HK :
    * UPDATES ON STATUS OF FOUR VESSELS
    * TOTAL AMOUNT PAYABLE BY GROUP TO CUSTOMER UNDER ARBITRAL
AWARD
IS HK$882.8 MILLION
    * GROUP WILL SETTLE PAYMENT UNDER ARBITRAL AWARD BY
FINANCING FROM
BANKS
    * CO, JIANGXI SHIPBUILDING, JIANGSU YANGZI XINFU
SHIPBUILDING .
ENTERS DEAL TO BUY, CONSTRUCT, ONWARD TRANSFER ONE OF FOUR
VESSELS
    * GROUP SHALL PUT RESCINDED VESSEL ON SALE ON AN AS-IS BASIS
BY
WAY OF PUBLIC AUCTION WITH A STARTING PRICE OF US$8 MILLION
    * YANGZI XINFU SHIPBUILDING AGREES TO PARTICIPATE IN AUCTION
AND
AGREES TO PLACE A BID AT US$8 MILLION

Source text for Eikon:  ID:nHKS706fb2 
Further company coverage:  0651.HK 

 ((Reuters.Briefs@thomsonreuters.com;))