It is reported that in April 2013, Teekay Tankers ordered 4+4 LR2 product tankers in STX Shipbuilding Ocean. Including this order, STX Shipbuilding Marine received 12 orders for LR2 product tankers from Teekay Tankers.
Teekay Tankers explained that a total of eight LR2 oil tankers were ordered in April and October 2013 and that the down payment has not yet been paid. In addition, four additional orders for the STX shipbuilding marine in October will receive the first installment refund from the shipyard. The first payment will be paid after the guarantee.
Teekay Tankers said: “Because there has been no way to secure a prepayment refund guarantee, other options are being evaluated, including taking legal action to cover the loss.â€
Teekay Tankers claims that it has the right to unilaterally revoke these orders without receiving a prepayment refund guarantee.
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