The ship M/T Bow Spring is of 39,500 dwt. with stainless steel tanks and advanced equipment.
The shipyard, following bankruptcy, experienced lost efficiency but is now back to full and smooth construction. Amongst other reasons because of increased stainless steel cost, the contract prices have been adjusted upwards, so that the average price for these eight newbuildings are now about USD 58 million per ship.
The rescheduled delivery program with us is now as follows:
Ship no. 4 in March 2005
Ship no. 5 in September 2005
Ship no. 6 in March 2006
Ship no. 7 in September 2006
Ship no. 8 in March 2007
