By : Andrew Spurrier
CHINA’s Sinopacific Shipbuilding has added to the mystery over this week’s order for 16 supramax vessels from its Dayang Shipbuilding facility by naming its client as Turner Shipping.
The problem is that it is by no means clear who or what Turner Shipping is or who is behind it.
Sinopacific confirmed that the order had not been placed by Setaf Saget, bulk shipping subsidiary of France’s Bourbon group, as was originally reported.
“We entered the deal with Panama-registered Turner Shipping but not Setaf Saget or its parent group, Bourbon,” a spokeswoman said, adding that the company had already order from the group in the past.
The Lloyd’s Marine Intelligence Unit indicated that Turner Shipping owned one supramax vessel which was delivered earlier this year by Dayang Shipbuilding.
The Bourbon group, which denied earlier this week that Setaf Saget had placed the order, said today that it had no links with Turner Shipping.
“There is no capital link with Bourbon or with any company in the group,” said a spokeswoman, adding that she did not know the company.
Bourbon is a major customer at Sinopacific, where it has placed major orders for offshore supply vessels and bulkers.
Jaccar, the personal investment company of Bourbon chairman Jacques de Chateauvieux, helped to set up the shipbuilder in 2003 in joint venture with chairman and chief executive Simon Liang.
The order for 16 63,500 dwt vessels, reported to be worth $560m, is one of the biggest placed with a Chinese yard in recent months. The vessels are understood to be for delivery in 2011 and 2012.
Source : Lloyd's List, 15.10.09.
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