Lindenau close to collapse

Germany's already insolvent Lindenau shipyard is close to collapse after the owner of the 43,550 dwt tanker newbuilding Seapike refused to accept delivery of the vessel, claiming that the view from the bridge over the bow of the ship was inadequate. The yard had already had to take out a Eur28m loan to complete the vessel and if German Tanker Shipping continues to refuse delivery, the yard could go under. Talks between Lindenau and GTS are ongoing.

(Source: Maritime Global Net)