Bermuda, 4 September 2015: Hull 1077 (Chinook), due for delivery from Jiangnan Shipyard 21 September 2015, will be drydocked in Singapore upon delivery and consequently be 10-20 days delayed in entering commercial service.
After reviewing available documentation related to the stern tube bearings for the ship, Avance Gas (OSE: AVANCE) is of the opinion that sufficient precautions have not been taken to assure that the ship is in acceptable condition. The seller and the builder have not agreed to Avance Gas' request to carry out visual inspection of stern tube bearings prior to delivery, as the ship has been approved by class in accordance with the shipbuilding contract.
As a precautionary measure, and to rule out the possibility of defects to the stern tube bearings, Avance Gas has decided to drydock the ship in Singapore at a cost of approx. $400,000.
Avance Gas has received sufficient documentation that hull 1078 (Pampero) is in acceptable condition and she is expected to be delivered in late October 2015, as previously reported.
For further queries, please contact:
Christian Andersen, President
Tel: +47 22 00 48 05 / Email: c.andersen@avancegas.com
Peder C. G. Simonsen, CFO
Tel: +47 22 00 48 15 / Email: p.simonsen@avancegas.com