Mawei Shipbuilding 500 million US dollars, the world's first ship "grounded"

[GGGGG]

Chinese article:

马尾造船5亿美元全球首制船“搁浅”

Mawei Shipbuilding 500 million US dollars, the world's first ship "grounded"

http://www.eworldship.com/html/2018/NewO...40847.html

Recap of the lease situation:

According to the International Ship Network, in 2014, Mawei Shipbuilding and Dubai Marine Assets Corporation (MAC) signed a construction contract to cooperate with Singapore design companies to build the world's first deep-sea mining ship for MAC, which was scheduled to be delivered by the end of 2017. The ship has a total cost of about US$500 million and has signed a chartering contract with Nautilus Mining Company for a five-year lease with a daily rent of $199901. The five-year rent is as high as $360 million. After the 5-year lease expires, Nautilus Mining can choose to renew or purchase.

At the end of last year, MAC did not pay the third payment for the deep-sea mining ship “MAC Goliath” built in Mawei. Mawei Shipbuilding said that if MAC failed to pay the arrears in installments within 21 days of receiving the notice of the Mawei Shipbuilding, Mawei Shipbuilding may choose to cancel the contract. According to the agreement, Mawei Shipbuilding has the right to sell the "MAC Goliath". At the same time, Nautilus Mining Company may, on behalf of the MAC within 14 days of receiving the notification of the Mawei Shipbuilding, make up the arrears on behalf of the MAC and/or replace the MAC to become the party to the contract.

[woodrhino]

Interesting quotes at the end of the article: " According to sources, the "MAC Goliath" deep-sea mining vessel will eventually be delivered and officially put into operation in the third quarter of 2019." AND "The Export-Import Bank of China, Fujian Branch, said it will continue to support the development and production of the second-generation deep-sea mining vessel of Mawei Shipbuilding." So, does the shipyard own the design of the ship now and can exploit everything on the ship for future designs?

[SanderR]

Interesting quotes at the end of the article: " According to sources, the "MAC Goliath" deep-sea mining vessel will eventually be delivered and officially put into operation in the third quarter of 2019." AND "The Export-Import Bank of China, Fujian Branch, said it will continue to support the development and production of the second-generation deep-sea mining vessel of Mawei Shipbuilding." So, does the shipyard own the design of the ship now and can exploit everything on the ship for future designs?

In my opninon, they refer to the signed letter of intent:

On March 29 this year, Mawei Shipbuilding held the construction ceremony for the world's first 227-meter deep-sea mine ship "Nautilus New Age" built for Nautilus Mining. Interestingly, during the Nautilus Mining and Mawei Shipbuilding ceremony, a letter of intent has also been signed for cooperation with the second generation of deep-sea mine vessels.