In 2007 Wilson entered into an agreement with the Chinese shipyard Shandong Baibuting Shipbuilding Co Ltd (Rong Cheng, China) for the construction of a series of 8 bulk vessels of 4.500 dwt. At that time stipulated delivery of the vessels was between mid 2010 through early 2012. Due to severe delay at the shipyard, Wilson and Shandong Baibuting Shipbuilding Co Ltd have now agreed to reduce the number of vessels from 8 to 4. It has also been agreed to reduce the contract price with a total of MUSD 4,4 for the 4 vessels to be delivered. This reduction in contract price will be in addition to daily liquidated damages to Wilson following the delay. The 4 vessels to be delivered are all scheduled for delivery during 2012.
Wilson is currently operating a fleet of 111 vessels of which 57 within the 3.500-4.500 dwt segment.
Wilson ASA
Bergen, 20th January 2012