From $350 million to 0

Having now finalized the agreement with the Japanese shipyard, Eitzen this week announced this week that it had sold, for $124 million, its three remaining newbuildings from Croatia to Laurin Marine through a novation agreement, whereby the buyer will assume all rights and obligations the company has to the yard, including all further payment obligations. The agreement is conditional pending approval from the yard and its refund guarantors.

Including, this sale, the delivery of four new vessels this year and the agreement with the Japanese yard, the company’s newbuilding program, which stood at $350 million at the beginning of

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