Contract Cancellation of 1 out of 2 Crude Oil Carriers Reduces Contract Value by 50%
Contract for 1 of 2 crude oil carriers cancelled due to shipowner's failure to pay final installment; contract value reduced 50% from KRW 227.5B to KRW 114.8B
Company expects to recover construction costs using received deposits and third-party sale of the vessel; financial impact expected to be minimal
Delivery date of the second vessel may change depending on shipowner's circumstances; will be re-disclosed upon confirmation
Contract end date not specified (subject to change)
KOSPI Filing Information
Filing: [Correction of Description] Conclusion of Single Sale and Supply Contract